Acquisition Strategy Key To Solar Integrated Roofing Corp.’S (OTC PINK: SIRC) Growth And Entry Into New Clean Energy Sectors — From EV Charging Stations To Solar System Installations In More States
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Summary
- Acquisition Strategy Key To Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Growth And Entry Into New Clean Energy Sectors — From EV Charging Stations To Solar System Installations In More.
February 2021 should be an exciting month for Solar Integrated Roofing Corp. (OTC PINK: SIRC) because it is the targeted time for SIRC to close on its newly announced acquisition of Pacific Lighting Management for its new dedicated EV Charging Station Solutions division plus it is readying for a market up list the end of this month or early March, the company said.
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) and Canadian Solar Inc. (NASDAQ: CSIQ).
Acquisition Strategy Key To Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Growth And Entry Into New Clean Energy Sectors — From EV Charging Stations To Solar System Installations In More States
David Massey, CEO of SIRC, announced yesterday it has signed a binding LOI to acquire a company for its new dedicated EV Charging Station Division, Pacific Lighting Management, Inc. SIRC said it was targeting the end of February for the close of the purchase for the company — which offers several long term (IDIQ-type) government contracts with the General Services Administration (GSA and GSA Fleet). Its customers also include federal, state and local governments, school districts, hospitals and large commercial clients., the Company said. It is a cash-flow positive buy, SIRC said.
Up Listing Getting Closer
As Solar Integrated Roofing Corp. (OTC PINK: SIRC) grows, primarily by acquisition, it is also preparing for an up list in market exchanges by month's end or early March, Brian Milholland, president of the Company, told Money TV’s host Donald Baillargeon. All of that is positive news as SIRC is growing, entering into new clean energy adjacent sectors, and hoping for wider stock profile on a larger market exchange. Acquisition Strategy Key To Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Growth And Entry Into New Clean Energy Sectors — From EV Charging Stations To Solar System Installations In More States.
Pacific Lighting Acquisition Set For Late February
The target closing date of the end of February 2021 dovetails with the end of the its fiscal year. Pacific Lighting is also qualified by the U.S. Department of Energy as an ESCo (Energy Services Company). David Massey, CEO of SIRC, said, “Pacific Lighting is a highly respected brand and will be a transformative partnership for our company, expanding our opportunities in the significant government contract market. Their Energy Services Company ESCo qualification is difficult to obtain and is held by just a few dozen large construction companies and a fraction of small businesses, authorizing them to enter into the often large-scale ‘performance contracts’ with federal and local governments.
He added, “Their strong relationships with government agencies, forged over 18 years of business, represent a unique, valuable opportunity for our growing portfolio of operating companies.” Pacific Lighting serves mainly government and large commercial clients. It is based in Southern California, in Santa Ana. Learn more at Pacific Lighting Management Inc.. Acquisition Strategy Key To Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Growth And Entry Into New Clean Energy Sectors — From EV Charging Stations To Solar System Installations In More States.
SIRC’s CEO and President, David Massey and Brian Milholland, respectively, told Money TV’s host Donald Baillargeon that SIRC was seeking a quick start in the EV Charging Station industry by seeking to acquire a ready-operating company. Massey said he is already interviewing potential acquisition targets in three states: New Jersey, Colorado and California. Tesla (NASDAQ: TSLA) is already in this space and GM (NYSE: GM) has already announced its plans to open 2,7000 more EV charging stations within five years as it goes to an all-electric car lineup in the future.
SIRC Sets Sights On EV Charging Station Business Industry
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is entering the EV charger installation market focusing on sales, marketing, installation and service of personal EV chargers — as well as on public EV charging infrastructure for network operators. To grow quickly in this industry, SIRC is seeking the acquisition of EV charger installers nationwide. Pacific Lighting is the first acquisition of a company operating in the EV Charging Station space. Acquisition Strategy Key To Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Growth And Entry Into New Clean Energy Sectors — From EV Charging Stations To Solar System Installations In More States.
SIRC Buys Enerev, LLC To Get Deeper Into Solar Space, More States
SIRC last week closed on its purchase of established clean energy solar installer Enerev LLC. Additionally, SIRC entered a new alliance with San Diego builders to enter the new home business in that market. It also reached agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. That company is now 24% owned by Ideanomics (NASDAQ: IDEX). and Solectrac is an applicant for a $500 million USTDA grant. Tesla, Inc. (NASDAQ: TSLA) has elevated Solar Integrated Roofing Corp. (OTC PINK: SIRC) To Certified Installer Status.
Brian Milholland, SIRC president, told Money TV’s host Donald Baillargeon that David Massey, SIRC CEO, told him that SIRC was completing the financials necessary for an initial up list by the end of February or early March. As the Company is doing that, it is at the same time continuing to grow its formidable footprint in the clean energy sector.
Over the past few weeks, SIRC stock (OTC Pink: SIRC) has reported volatile results — outpacing the projections given to it in an updated Goldman Small Cap Research report. That triple Goldman’s price target to $0.75
Goldman Small Cap Research Sees A Bright Future For SIRC Stock
Goldman Small Cap Research in a analysis report explained that SIRC’s stock still has a lot to gain in valuation metric. “Thus, we believe that these shares (OTCPK:SIRC) could trade north of $1.00 and beyond in 2021, especially as new companies are brought into the SIRC family,” it concluded. Goldman Small Cap Researchin the January report tripled its price target for Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 for the next three-six months. But SIRC's stock has already eclipsed that — trading at yesterday’s close at $1.90, after a whirlwind week of volatile stock valuation.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says It Will Reach $40 Million In FY 2022
Goldman likes the SIRC M&A strategy, entry into adjacent sectors, past record performance and partnership/agreement with the EV developer of all-electric tractors, which is an applicant for a $500 million USTDA grant. Saying that SIRC is expanding volume both organically and with acquisition growth, it projects SIRC sales at $19.8 million for FY 2021 and $38.5 million In FY 2022.
SIRC itself forecasts a volume of $40 million for FY 2022 — slightly north of the $38.5 million projected for it that year by the new Goldman report. Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), projects that its fast-track growth will generate revenues of $20 million for the FY ending February 28, 2021, almost precisely the $19.8 million estimated by the initial report.
Learn more about SIRC at Leadership - SIRC IR.
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