How Far Will It Go? Solar Integrated Roofing Corp (OTCMKTS:SIRC) Closes Acquisition

Solar Integrated Roofing Corp (OTCMKTS:SIRC) continues to attract strong buying interest as the stock is up 65% in the past week. In addition, the stock is up 825% in the past six months.

Market reaction:

As of 10:59 a.m., SIRC shares rose 17% to $0.84 with more than 3.57 million shares, compared to the average volume of 2.54 million shares. The stock has moved within a range of $0.7305 – 0.8399 after opening the trade at $0.7440.

Main trigger:

Solar Integrated Roofing Corp. closes future home power acquisition, adding $1M per week to expected near-term high-margin revenue inkomsten

Essentials:

  • announced the completion of the acquisition of Future Home Power, a sales company for solar energy, roofing and battery storage.
  • Founded by Jason Newby in late 2020, Future Home Power specializes in the sale of residential solar panels, roofing and battery storage – working with local installers, mainly SIRC portfolio companies in the future, to complete the installation on site.
  • Future Home Power has built a strong reputation for providing customers with a smooth and easy process for consultation and installation of solar panels and battery storage. The company expects the acquisition to contribute immediately and grow rapidly to $1 million per week in incremental sales with a robust 45% gross margin profile, creating value across the customer’s lifecycle.

key quote

The rapid completion of our acquisition of Future Home Power is timely for us as they are on track to reach 60 sales reps by the end of May with further growth planned beyond,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. “The additional workforce and lead generation capabilities will allow us to rapidly scale the acquisition to an estimated $1 million plus sustainable, incremental sales per week as early as next month – Future Home Power, for example, has $500,000 in the last week of May alone. 1.4 million and is likely to reach $2.0 million in weekly revenue in the near term.

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