Solar Integrated Roofing Corp. Set to Acquire Home Improvement Marketing Innovator Approved Home Pros

Rhea-AI Summary

Solar Integrated Roofing Corp (OTC PINK:SIRC) plans to acquire Approved Home Pros, a well-known home improvement media producer, enhancing its media and marketing capabilities. This acquisition is projected to generate approximately $11 million in additional revenue, largely through synergies between SIRC's operations and Approved Home Pros' specialized referral services. CEO David Massey highlighted the expected growth potential from leveraging this asset, which previously supported the success of Milholland Electric Inc. The acquisition will finalize on July 31, 2021.

Positive

• Acquisition of Approved Home Pros expected to generate $11 million in added revenue.
• Strong synergy anticipated between SIRC's current operations and the new referral service.
• Approved Home Pros' media platforms will enhance marketing for SIRC's brands.

Negative

• None.

Multi-Platform Media Production and Distribution with "Pro Finder" Tool Estimated to Fuel $11 Million Organic Growth

EL CAJON, CA / ACCESSWIRE / July 21, 2021 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated solar and roofing installation company, announced plans to acquire Approved Home Pros, the producer of popular and respected home improvement television and radio shows based around their proprietary Pro Finder contractor screening, vetting and referral service. The acquisition includes plans to expand Approved Home Pros media and marketing operations to generate a high volume of high value leads for the SIRC family in core categories of Residential Solar and Roofing.

As part of a clear strategy by Solar Integrated Roofing to fuel organic growth, the acquisition is estimated to generate $11 million in added revenue. This expected growth is due, in large part, to the tremendous synergy between SIRC's current holdings and Approved Home Pros specialized media content and Pro Finder referral service. In addition to the impact on revenue from increased SIRC lead volume, Approved Home Pros also generates revenue from leads that are sold to companies in categories not serviced by SIRC.

David Massey, Chief Executive Officer of Solar Integrated Roofing Corp, commented, "Approved Home Pros was a major factor in the sustained growth and brand power of Milholland Electric Inc (acquired by SIRC in 2020). Now, we can leverage this proven asset to generate added revenue for several of our holdings. Additionally, Approved Home Pros TV, Radio and Digital platforms provide avenues to deliver the marketing message of all the brands in the SIRC family."

For almost a decade, Approved Home Pros has provided consumers with tips, advice and inspiration for home improvement and home maintenance via television, radio, and digital platforms. Consumers in turn use Approved Home Pros "Pro Finder" tool to search for, and connect with, an exclusive group of contractors and products that have passed their proprietary screening and vetting system. Approved Home Pros founder Sean Johnson will continue as division president following the completion of the acquisition on July 31, 2021.

About Solar Integrated Roofing Corporation
Solar Integrated Roofing Corporation is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. For more information, please visit: www.solarintegratedroofingcorp.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
Director
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/656393/Solar-Integrated-Roofing-Corp-Set-to-Acquire-Home-Improvement-Marketing-Innovator-Approved-Home-Pros

FAQ

What is the purpose of Solar Integrated Roofing's acquisition of Approved Home Pros?

The acquisition aims to enhance marketing and generate additional revenue through synergies with SIRC's existing operations.

How much revenue is Solar Integrated Roofing expecting from the acquisition?

SIRC expects to generate approximately $11 million in additional revenue from the acquisition.

When is the acquisition of Approved Home Pros expected to be completed?

The acquisition is set to finalize on July 31, 2021.

What is the role of Approved Home Pros in SIRC's business strategy?

Approved Home Pros will contribute to increased lead volume and marketing strategies for SIRC's brands.