Solar Integrated Roofing Announces Closing of Balance LLC Acquisition, Finalizing Buildout of Unified Backoffice Capabilities

Rhea-AI Summary

Solar Integrated Roofing Corp. (OTC:SIRC) has completed the acquisition of Balance, LLC, a Business Process Outsourcing (BPO) firm. The acquisition enhances SIRC's back-office capabilities to support its growth strategy. Founded in 2015, Balance has established relationships with over 900 contractors, managing more than 30,000 jobs nationwide. CEO David Massey emphasized the importance of this acquisition for scaling operations and maximizing synergies across the company’s portfolio. This strategic move aims to drive long-term value creation for shareholders.

Positive

• Acquisition of Balance enhances back-office support for future growth.
• Balance's established contractor relationships (900+) improve service efficiency.
• Expected synergies from Balance's management practices could streamline operations.

Negative

• None.

EL CAJON, CA / ACCESSWIRE / May 4, 2021 / Solar Integrated Roofing Corp. (OTC:SIRC), an integrated, single-source solar power and roofing systems installation company, today announced the closing of its acquisition of Balance, LLC, a Business Process Outsourcing (BPO) firm - finalizing the buildout of the Company's unified backoffice capabilities to support all recent and future acquisitions.

Founded in 2015, Balance is a BPO firm focused exclusively on assisting contractors to manage their businesses as efficiently and effectively as possible. Recognized as "America's Services Company for Contractors", Balance is one of the most admired brands servicing the contracting industry in the US. To date, Balance has service relationships with over 900 contractors across the nation providing industry leading administrative, estimating, supplementing, back office, billing, and project file management for over 30,000 jobs.

"We are pleased to have closed our acquisition of Balance so rapidly, providing the critical backend needed to support our aggressive acquisition strategy," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. "Troy Clymer, who heads up Balance, will prove invaluable as we scale - implementing best practices across all SIRC portfolio companies to ensure efficient processes and maximum synergy realization. I look forward to working with Troy and the balance team going forward, driving long-term value creation for our shareholders."

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.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.

Investor Relations Contact:

Lucas A. Zimmerman
Senior Vice President
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

SOURCE: Solar Integrated Roof Corp.

View source version on accesswire.com:
https://www.accesswire.com/643882/Solar-Integrated-Roofing-Announces-Closing-of-Balance-LLC-Acquisition-Finalizing-Buildout-of-Unified-Backoffice-Capabilities

FAQ

What is the significance of Solar Integrated Roofing's acquisition of Balance, LLC?

The acquisition strengthens SIRC's back-office capabilities and supports its aggressive growth strategy.

How many contractors does Balance have relationships with?

Balance has established relationships with over 900 contractors.

What services does Balance, LLC provide?

Balance specializes in administrative, estimating, and project management services for contractors.

What are the expected benefits of the acquisition for SIRC shareholders?

The acquisition aims to drive long-term value creation through operational efficiencies and enhanced service offerings.