Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Acquisition Of Approved Home Pros, Multi-Platform Media Owner Of Proprietary Pro Finder Contractor Referral Service, Driving $11 Million In Additional Organic Revenue; Expects Ac-quisition Close On July 31, 2021
Solar Integrated Roofing Corp. (OTC PINK: SIRC), in a move designed to grow organic growth from within, announces plans today (July 21, 2021) to acquire by month’s end multi-media platform Approved Home Pros, and its proprietary Pro Finder tool contractor referral service. The purchase, expected to close by July 31, 2021, is anticipated to drive $11 million in organic volume to SIRC’s annual revenues, the company said. Sean Johnson, Approved Home Pros founder, is expected to continue as division president following the acquisition. Approved Home Pros is expected to provide SIC’s family of companies with a high volume of high value leads.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Acquisition Of Approved Home Pros, Multi-Platform Media Owner Of Proprietary Pro Finder Contractor referral Service, Adding $11 Million In Additional Organic Revenue; Expects Acquisition Close On July 31, 2021
Approved Home Pros is a multi-platform producer of popular home improvement television and radio shows based around their proprietary Pro Finder contractor screening, vetting and referral services. It is anticipated that it will fuel some $11 million in added organic growth annual revenue in the core categories for SIRC of residential solar and roofing. In addition, Approved Home Pros also drives revenue from TV, radio and other digital platforms in home improvement categories not already serviced by SIRC.
David Massey, CEO of SIRC, said, “Approved Home Pros was a major factor in the sustained growth and brand power of Mulholland Electric, Inc. (which was acquired by SIRC in 2020). Now, we can leverage this proven asset to generate added revenue for several of our holdings. Additionally, Approved Home Pros TV, Radio and Digital platforms provide avenues to deliver the marketing message of all the brands in the SIRC family.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Acquisition Of Approved Home Pros, Multi-Platform Media Owner Of Proprietary Pro Finder Contractor Referral Service, Driving $11 Million In Additional Organic Revenue; Expects Acquisition Close On July 31, 2021.
Approved Home Pros for almost a decade has been providing consumers with home improvement and home maintenance tips, advice and inspiration via television, radio and digital platforms. Consumers use its proprietary “Pro Finder” tool to find an exclusive group of contractors who have passed their own screening and vetting system.
Massey told shareholders Monday night in SIRC’s first monthly live Q&A session last night that his dream for SIRC is to be a $250 million company with a $25 million profit. More immediately, he said SIRC is on track to reach $150 million in volume in this 2022 FY. Massey said he intends to continue the live monthly Q&A sessions in the future to improve communications with the company’s shareholders and total investment community. This session was audio-only, but Massey said in the future they would also be video/audio. The wide-ranging interview was held on a Discord channel. To sign up to attend future live Q&A sessions, go to MediaTek Discord at http://discord.com/invite/mediatek or www.discord.com to open a link to a free account.
Massey emphasized that he believes SIRC is in a great growth space and is focused now on profitability, a national footprint and organic growth. The executive team is also focused on achieving an up listing first to the OTCQB and then, later, to NASDAQ. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Acquisition Of Approved Home Pros, Multi-Platform Media Owner Of Proprietary Pro Finder Contractor Referral Service, Driving $11 Million In Additional Organic Revenue; Expects Acquisition Close On July 31, 2021.
Internal or organic growth is as important growth strategy for Massey and SIRC, not just growth by acquisition. The Approved Home Pros acquisition is a prime example of its clear strategy for organic growth in the future, as it anticipates $11 million in incremental volume built by leads from that company’s proprietary Pro Finder ‘tool’ to locate and hire contractors who have successfully passed their own screening and vetting system.
Additionally, as a multi-platform media company in television, radio and digital platforms, Approve Home Pros can not only provide valuable sales leads in the core categories of solar and roofing to SIRC, but also increased outside company exposure to more home improvement shopping consumers. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Acquisition Of Approved Home Pros, Multi-Platform Media Owner Of Proprietary Pro Finder Contractor Referral Service, Driving $11 Million In Additional Organic Revenue; Expects Acquisition Close On July 31, 2021.
In a wide-ranging live Q&A session Monday evening, Massey talked about how the company is now on track to reach $150 million in sales in the 2022 FY. Longer term, he added, “I have a vision for SIRC to be a $250 million company making a $25 million profit,” Massey said. “We are still looking at acquisitions, such as a Denver EV Charging Station firm, and are even considering ‘wind’ as a green energy category, but only if we could find the right partner.”
He discussed the positive ways that SIRC has expanded by acquiring companies such as Cornerstone Construction, Future Home Power (FHP) and the 38-state USA Solar Network. The last takeover is key to SIRC, Massey said, like opening 38 acquisitions at once with the takeover of US Solar Network — a solar energy and EV Charging Infrastructure company, headed by Pablo Diaz, CEO. Massey said the firm would expand SIRC’s sales by some 50-100% or $50 million per year in incremental growth at 16% gross margins as early as FY 2022.
Led by Diaz, the USA Solar Network has scaled into 38 states and key markets such as Texas, Florida, Illinois, Arizona, Missouri and New Mexico. Massey praised accomplishments of Pablo, particularly completing more than 7,000 solar projects to date, he said, and generating over $40 million in revenue since 2018. Read more about USA Solar Networks here.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) reported its sales reached $10+ million in June 2021, with recently-acquired Future Home Power (FHP) generating volume of $6+ million for the month. Because SIRC’s acquisition of FHP occurred on June 9, not all of its sales during the month will be recorded as SIRC’s sales. SIRC expects its record-breaking expansion and momentum to continue in the months ahead as it progresses towards its volume guidance of reaching $100 million in 12 month sales by May 31, 2022.
Massey said that with its newest acquisitions, and FHP driving sales growth, SIRC is on track to achieve total sales of some $150 million in the new fiscal year — surpassing the guidance it offered earlier to the investment community of $100 million for the 12 months ended May 31, 2022. SIRC is expected to reach profitability in its 2022 fiscal year, he said.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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