Solar Integrated Roofing, Inc. Acquires Milholland Electric, Inc.

Company Now on a +$25 Million Run-rate in Revenues

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Solar Integrated Roofing Corporation

Jan 30, 2020, 06:00 ET

POWAY, California, Jan. 30, 2020 /PRNewswire/ -- InvestorsHub NewsWire -- Solar Integrated Roofing Corporation (OTC-PINK: SIRC), an integrated solar and roofing installation company, announced today that it has closed the acquisition of Milholland Electric, Inc. The company is now on a +$25 million run-rate in revenues.

David Massey, CEO of SIRC, said, "we have been very busy executing on a number of items according to our business plan. One of the major items on our plan was to close the Milholland acquisition. I can't stress the importance of not only closing this acquisition, but of having Brian Milholland be a part of this company as an important leader of our team. He is the "solar guru" in the Southern California markets."

Massey continued, "we have executed the following items in our business plan which bring our revenues to a +$25 million run-rate:

Closed Milholland acquisition (currently generating approximately $10 million in revenues).
Closed SRS acquisition (currently generating approximately $5 million in revenues).
Closed McKay Roofing acquisition (currently generating approximately $5 million in revenues).
Closed Montross Roofing acquisition (currently generating approximately $2 million in revenues).
Closed Narrate acquisition (Pro forma revenues of approximately $4 million for Fiscal 2021).

We are integrating all of these acquisitions and cross selling our solar and roofing solutions, thus, generating a margin increase of approximately 15%-25% in revenues across the board."

Finally, Massey said, "while this integration process takes shape, we will continue to look for acquisitions which are accretive to our bottom and top lines. We are building something here. Something bigger than any one person. We are building a company that we can all be proud of, especially our shareholders."

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. For more information, please visit: www.solarintegratedroofingcorp.com

Forward-Looking Statements:

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.

Contact:
Marlena LeBrun
+1 760-566-9116
[email protected]
https://www.facebook.com/secureroofingandsolar/
https://www.linkedin.com/company/sirc-stock/about/

SOURCE Solar Integrated Roofing Corporation