Solar Integrated Roofing Corp closes roofing buys in San Diego

Residential solar system. Author: David TREBOSC. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

September 18 (Renewables Now) - Solar Integrated Roofing Corporation (OTCMKTS:SIRC) has closed the purchase of two San Diego roofing companies in less than a week.

Last Thursday, the company said it had completed the takeover of McKay Roofing, which generates revenues of over USD 5 million (EUR 4.5m) a year as well as 40% gross margins.

This purchase provides SIRC with a database of more than 30,000 clients to whom SIRC intends to cross-sell its solar solutions. According to David Massey, CEO of SIRC, this will increase the firm’s revenues by between 15% and 25% per month.

On Tuesday, SIRC also announced it had finalised the acquisition of The Montross Companies, another San Diego-based roofing firm. This one is expected to add over USD 3 million in annual revenues to the company’s top line.

SIRC’s merger and acquisition (M&A) spree over the past weeks was not limited to roofing businesses though. In August, the company also bought energy efficiency marketing firm Narrate, which has deals with a number of “industry giants” totalling more than USD 1 million in monthly revenues.

(USD 1.0 = EUR 0.905)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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