Solar Integrated Roofing, Inc. Signs LOI to Acquire $5 Million Dollar Sales and Marketing Company in California
Poway, California--(Newsfile Corp. - September 1, 2020) - Solar Integrated Roofing Corporation (OTC PINK: SIRC), a leading integrated solar and roofing installation company, is pleased to announce the company has signed a Letter of Intent (LOI) to acquire a $5 Million California based solar sales and marketing Company. This acquisition is in the latter stages of negotiations and all parties involved are working on completing the necessary due diligence to finalize this deal. The target acquisition is an established solar company with a robust customer base in San Diego Ca, Orange County Ca, and the greater Phoenix Metropolitan area. Currently boasting a 50% profit margin, revenue is expected to increase by $2 Million per month, per region, for a total gain of $ 6 Million per month.
Dave Massey, CEO of Solar Integrated Roofing Inc. stated "The Company has experienced strong growth in recent months as the entire solar energy sector continues to heat up. We feel this acquisition will enhance our current business model, as it uses a unique door-to-door sales model, limiting overhead costs, and increasing awareness of our company. We are currently well-positioned with on the ground associates who are duly equipped to handle the influx of new business. Our internal milestone is to obtain 100 installations per month in the three regions and we fully expect this to be easily obtainable."
Mr. Massey continued "This acquisition will strengthen our operations in the Southern California region. This purchase will also serve to establish our corporate footprint in the Greater Phoenix and surrounding Metropolitan areas in Arizona, which has a combined population of over 12 million. Currently, the market is fragmented, with many small solar companies fighting for market share. We had previously committed to the expansion into the Albuquerque Nm. market, this acquisition will firmly establish our company as a dominant force in the Southwestern United States as well as in the whole Solar Energy sector."
About Solar Integrated Roofing Corporation:
Solar Integrated Roofing Corporation is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. The Company is focused on becoming a nationwide leader in green energy by employing an effective strategy for solar and roofing needs by making it cost-effective and energy-efficient. For more information please visit: www.solarintegratedroofingcorp.com
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition, and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing, and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market, and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
SOLAR INTEGRATED ROOFING CORPORATION
1475 N. Cuyamaca St.
El Cajon, CA 92020
Phone: (858) 437 5330
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62976