Apr 07, 2021 (Stock Market Press via COMTEX) -- As it continues to grow principally by acquisition, Solar Integrated Roofing Corp. (OTC PINK: SIRC) is strengthening its executive team by naming Craig Widdes as President of Roofing Operations for Southern California , responsible for all roofing activity across the company's various operating brands. In doing so, SIRC is adding more executive skill as David Massey, CEO, seeks more acquisition targets in several diverse classifications: roofing, solar, EV Charging Stations dedicated division, expansion nationwide and more clean green energy sectors.
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Solar Integrated Roofing Corp. (OTC PINK: SIRC), Strengthens Management Team With Addition Of Craig Widdes As President Of Roofing For Southern California Region As Company Prepares For Future Growth
The expansion move with Widdes can be seen as another phase of SIRC building its management team as it quickly grows. Prior, SIRC named Brian Milholland president of the company. Earlier Milholland was founder of San Diego-base Millholland Electric, later acquired by Solar Integrated Roofing Corp. (OTC PINK: SIRC). Further strengthening the management team at SIRC is the addition of Hunter Ballew, founder of acquired company Cornerstone Construction, based in South Carolina. The company also has roofing and solar operations in North Carolina, Arkansas, Oklahoma and Alabama.
According to site Proactive , Massey told them that SIRC's recent acquisition of multi-state Cornerstone Construction -- a solar and roofing solutions provider -- is on track to bring SIRC $25-$30 million in annual revenue, more than doubling the Company's current size in volume. Solar Integrated Roofing Corp. (OTC PINK: SIRC), Strengthens Management Team With Addition Of Craig Widdes As President Of Roofing For Southern California Region As Company Prepares For Future Growth.
Together, this extensive-experienced team of executives and entrepreneurial founders of corporations in the roofing, solar, electrical and energy saving sectors, is making SIRC into a formidable company with a management team capable of the next step in its growth. Solar Integrated Roofing Corp. (OTC PINK: SIRC), Strengthens Management Team With Addition Of Craig Widdes As President Of Roofing For Southern California Region As Company Prepares For Future Growt.
Massey: Widdes Hiring Creates Cross-Selling Opportunities For SIRC
David Massey, CEO of SIRC, said of the hiring of Widdes, "His established network throughout the Southern California market in particular will help us further scale our portfolio of brands, freeing me up to focus on acquisitions and growth into adjacent markets, while concurrently creating new cross-selling opportunities across our various business segments." He added that the addition of Widdes would help the firm attain its next stage of growth, creating more value for its shareholders.
In a corporate update to shareholders , SIR outlined its gameplan for management and efficiency for its future growth. Massey wrote to shareholders, "We are currently operating at an approximate $50-$60 million annual revenue run rate, which we plan to further grow to $100 million in the near-term through continued acquisitions. After reaching this point, we will slow the pace of acquisitions to focus on consolidation, realizing synergies, and maximizing near-term profitability." Solar Integrated Roofing Corp. (OTC PINK: SIRC), Strengthens Management Team With Addition Of Craig Widdes As President Of Roofing For Southern California Region As Company Prepares For Future Growth.
Building and expanding its team of management executives to oversee the growth of Solar Integrated Roofing Corp. (OTC PINK: SIRC) is the next stage of its expansion. It can realize the efficiencies of these acquied consolidated companies in the roofing, solar, EV Charging Market and other adjacent sectors.
Massey added in the 'Milestones' update to SIRC shareholders, "We expect that our robust balance sheet -- which stood at over $11 million in cash as of February 28th, 2021, will be sufficient to meet any near term needs. That being said, to further fortify our cash position and expand our growth initiatives into the EV charging space, we recently applied for a U.S. Department of Energy grant, which could provide between $20-40 million in funding to help support the build-out of dedicated electric vehicle (EV) charging solutions nationwide through our various operating brands."
To shareholders, Massey said, "Looking ahead, with these accretive new partnerships, accelerating momentum , and our planned up listing, I believe we are better positioned to deliver value to our shareholders than at any prior time in our history as a public company. I look forward to announcing further milestone achievements in the months to come as we continue our rapid pace of operational execution."
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/ .
Source: Stock Market Press
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