$SIRC) Closes Acquisition, Adding $1 Million per Week in Expected Near-Term, High-Margin Revenue
EL CAJON, CA – June 10, 2021 (Investorideas.com Newswire) Solar/Battery stock news from Investorideas.com Newswire and RenewableEnergyStocks.com – Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single installation company for solar energy and roofing systems, today announced the closing of its acquisition of Future Home Stream, a sales company for solar energy, roofing and battery storage.
Founded by Jason Newby in late 2020, San Diego-based Future Home Power specializes in the sale of residential solar panels, roofing and battery storage – working with local installers, primarily SIRC portfolio companies in the future, to complete the installation on site. to round. 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.
“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 that point,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Company. “The additional workforce and lead generation capabilities will allow us to quickly scale the acquisition to an estimated $1 million plus sustainable, incremental sales per week, as early as next month — Future Home Power has $1, for example. Earned 4 million in the last week of May alone and is likely to reach $2.0 million in weekly revenue in the near term.
“The acquisition is expected to be a key growth engine for our other subsidiaries in the coming years, who will be able to complete contract work on site once the sale is completed, capturing the full lifecycle value of each customer. I look forward to working with Jason and his growing team – integrating them into our business development arm to further improve project flow for the entire SIRC family of companies,” concluded Massey.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar and roofing installation platform specializing in commercial and residential real estate in the United States. The company’s wide range of solutions spans the sale and installation of solar energy systems, backup batteries and charging stations for electric vehicles (EVs) to roofing, HVAC and related electrical contractors. For more information, visit the company’s website at: www.solarintegratedroofing.com.
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