Business
SinglePoint Inc. Enters Agreement to Acquire Boston Solar, a Leading Massachusetts-Based Full EPC Solar Installer
SinglePoint Inc. Enters Agreement to Acquire Boston Solar, a Leading Massachusetts-Based Full EPC Solar Installer.
About this update from Singlepoint, Inc.
[{"type":"text","content":"\n\n\n\nSinglePoint Inc. Enters Agreement to Acquire Boston Solar, a Leading Massachusetts-Based Full EPC Solar Installer\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSinglePoint Inc. Enters Agreement to Acquire Boston Solar, a Leading Massachusetts-Based Full EPC Solar Installer\n-- Boston Solar is one of the leading installers in New England averaging $15M in annual revenue and over $75M in installed projects (unaudited) since 2016\n-- Acquisition provides small and medium commercial installation capabilities with the largest being 1 megawatt project and aligns with the fully integrated strategic vision of SinglePoint for residential, small commercial and industrial solar services\n-- Boston Solar targeting minimum ~$25M in revenue for 2022\nPR Newswire\nPHOENIX, Nov. 30, 2021\n\n\n\nPHOENIX, Nov. 30, 2021 /PRNewswire/ -- SinglePoint, Inc. (OTCQB:SING) announces that it has entered into an agreement to acquire 80.1% of Boston Solar, a leading full EPC solar installer in New England. The transaction is contingent on completion of the on-going audit and the subsequent financing and is expected to close prior to year-end or within the first quarter of 2022.\n\n \n \n \n \n \n \n\n \nExecuting on Acquisition Strategy to Drive Revenue Growth and Operational Synergies.\nIn July 2020, SinglePoint announced its intentions to prioritize and reallocate Company assets and focus its business strategy around the emerging and growing market opportunities in residential and solar energy. At that time, the Company introduced a residential and small commercial solar centric rollup strategy designed to increase market share, revenues and most importantly build a future business focused on revenue growth and profitability. The current advancements in the technology related to solar PV and energy storage create a long-term market opportunity for SinglePoint' s renewable energy and storage business, as there is only approximately 4% current penetration of the addressable solar market for both residential, small commercial and light industrial. \n\"Our next phase of non-organic growth is...