Solar Integrated Roofing Corp. Announces Acquisition of USA Solar Network, Concluding Near-Term Rollup Efforts

  • Adding the missing piece to the puzzle: Solar and EV charging infrastructure developer to join the SIRC family of companies, adding $50 million a year in incremental sales as early as 2022
  • Company prioritizes driving organic growth and profitability over near-future acquisitions

EL CAJON, CA / ACCESSWIRE / July 13, 2021 / Solar Integrated Roofing Corp. (OTC:SIRC), an integrated, single-source solar and roofing installation company, today announced that it has signed a purchase agreement to USA Solar Network LLC (“USA Solar Network”), a developer of solar energy and electric vehicle charging infrastructure.

Founded and led by CEO Pablo Diaz, recipient of the 2020 Top 20 Dynamic CEO Award, USA Solar Network helps customers install the best available solar or EV charging system by comparing hundreds of local installers and financing options. Pablo’s leadership has generated more than $40 million in revenue since 2018 and has rapidly scaled to more than 37 states, including key markets such as Florida, Texas, Illinois, Arizona, Missouri and New Mexico.

Solar Integrated Roofing believes the synergy with USA Solar Network will enable the company to scale rapidly and achieve 50-100% growth in incremental residential and commercial sales with 16%+ gross margins by 2022. The acquisition will move to is expected to be a notable growth driver for solar and EV charger installers within the SIRC family of companies that can complete contract work on site once sales are completed through USA Solar Network, capturing the full life cycle value of each customer.

Caption: Taking advantage of this new network, the SIRC family of companies can now serve all the markets depicted.

“USA Solar Network has a footprint in exciting new markets that will continue to broaden our national reach – the missing piece of the puzzle, allowing us to expand nationally into new markets at minimal cost using their existing network that supports solar and EV installations.” includes,&rdquo ; said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. “Pablo and his team have built strong regional partnerships with key players in the solar and EV charger industry, with more than 7,000 solar projects completed to date. We believe the timing of this acquisition is also perfect given the strong growth in demand we have seen nationwide for EV charging installations.

“Given the company’s ability to serve both residential and commercial markets, we believe we can efficiently integrate USA Solar Network into the SIRC family of companies and further enhance its growth trajectory, while opening up exciting opportunities for EV charging networks with different levels of government, leveraging their contractor network to expand at no additional cost.

“We believe this could be our last acquisition for the foreseeable future before turning inward to organic growth and achieving cash flow breakeven – a monumental step for the company and its shareholders that we believe it will significantly reduce any dilution and grow the business to profitability.” Massey concluded.

About the US solar grid

USA Solar Network is a solar power developer helping customers install the best available solar power system for any residential or commercial building. The multiple divisions focus on the following areas of the solar industry: residential solar, commercial solar, commercial solar finance, and licensed solar installations. The company’s extensive network of sales companies, dealers and installation partners spans more than 100 strong network, covering a market of more than 37 states. For more information, visit http://usasolarnetworks.com/.

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar and rooftop installation platform specializing in commercial and residential real estate in the United States. The company serves communities by delivering the best experience through constant innovation and legacy-focused leadership. 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 installation work. For more information, visit the company’s website at: www.solarintegratedroofing.com.

Forward-Looking Statements

Any statements in this press release that are not historical facts contain certain forward-looking statements; as that term is defined in the Private Security Litigation Reform Act of 1995, in reference to potential developments affecting the business, prospects, financial condition and other aspects of the business to which this release relates. Actual results of the specific items described in this press release, and the Company’s operations in general, may differ materially from those projected in such forward-looking statements. While such statements are based on the best judgment of the company’s management as of the date of this press release, significant differences in size, timing and other factors could arise from business risks and uncertainties, including, but not limited to, reliance on the business of third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of income and other factors, many of which are beyond the company’s control. The company disclaims any obligation to update the information in any forward-looking statement. This press release should not be regarded as a general request.

Contact person for investor relations:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

SOURCE: Solar Integrated Roof Corp.

Check out the source version at accesswire.com:
https://www.accesswire.com/655241/Solar-Integrated-Roofing-Corp-Announces-Acquisition-of-USA-Solar-Network-Conclusive-Near-Term-Rollup-Efforts

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