POWAY, CA, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corporation (OTCPINK: SIRC) has announced a projected March 1, 2018 closing date for the acquisition, an LOI for which was announced on October 27th. The acquisition of Blue Star Energy and Haenggi Home Services Inc. is expected to add additional revenues and create increased efficiencies in overall operations.
“We’re very pleased to be proceeding with this deal,” said Solar Integrated Roofing Corporation CEO Dave Massey. “The company has a tremendous track record in both the commercial and residential solar and HVAC industries. Their client database numbers in the several thousands. Their annual revenues over the last three years has averaged $3.5 to $4 million, with expected revenues to approach or exceed $10 million in 2018.”
Management of Blue Star Energy and Haenggi Home Services Inc. has an impressive history of experience and accomplishment, having previously been with one of the largest solar installers in California as Director of Sales; being instrumental in driving that company’s annual revenues from $25 million to $60 million. They plan to help Solar Integrated Roofing Corporation expand their HVAC and electrical divisions to further boost sales opportunities.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corporation (SIRC) 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. 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 information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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Source:Solar Integrated Roofing Company Corp