US Solar Integrated Roofing to expand in S California, Arizona with new acquisition
Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
US Solar Integrated Roofing Corporation (OTCMKTS:SIRC) last week said it had signed a letter of intent to buy a solar company that will help it expand its business in Southern California and Arizona.
According to the buyer, the target is a solar sales and marketing firm with a strong customer base in San Diego, Orange County and the greater Phoenix that expects to see revenue grow by a total of USD 6 million (EUR 5.1m) monthly in the three regions.
The two companies are in the final stages of negotiations and are working to close the deal, according to the statement.
Solar Integrated Roofing is aiming at installing 100 rooftop solar systems every month in the three regions, CEO Dave Massey commented.
"We feel this acquisition will enhance our current business model, as it uses a unique door-to-door sales model, limiting overhead costs, and increasing awareness of our company," Massey noted.