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)