SIRC to close two new acquisitions
- According to SIRC’s announcement, it has secured a $2.7m financing to close acquisitions of two new companies.
Solar Integrated Roofing Corp has disclosed securing $2.7mn non-dilutive funding. The money is meant for closing acquisitions of McKay and Milholland.
Taking into account the forthcoming acquisitions, the rooftop solar installer expects to generate over $30m in revenues for Feb 2021 fiscal with 12-15% EBITDA margin. The company finds their market capital evaluated below $4m under-valued and is sure financial markets will reconsider the value. SIRC is inclined to continue expanding the corporation and increasing its stock price. They are aimed at raising margins and revenues by means of the currently owned businesses, at the same time being focused on acquiring new companies.
Solar Integrated Roofing is a residential and commercial BIPV installer. SIPC specializes on acquiring similar companies. It has an ambition to turn into the leader in the solar roofing market of Southern California. The new acquisitions are expected to bring the company closer to this goal.