Phoenix-based SinglePoint Inc., a company that focuses on renewable energy and energy storage, has acquired Massachusetts-based The Boston Solar Company LLC.
This is the first of multiple acquisitions SinglePoint (OTCQB: SING) says it plans to close this year as it prepares to apply to uplist to the Nasdaq market.
It also takes SinglePoint further toward its goal of building the nation’s leading solar services network, said Wil Ralston, SinglePoint’s CEO, who called the addition “a milestone” for his company.
“As the electrification of everything continues and the importance of obtaining consistent and reliable energy access, we see a long-term future for solar, EV charging and energy storage,” Ralston said in a statement. “We are excited to welcome Boston Solar and their entire experienced professional team. With this acquisition we are addressing the massive residential opportunity with the leading residential company in the New England area which shares the common core values of providing best in class customer service and honest treatment of all customers across the board as evidenced by their impressive business history in the market and positive customer reviews.”
Boston Solar is an installer estimating $25 million in revenue for this year, with $16 million of that already contracted. The company counts the Boston Red Sox among its customers — it installed a solar system at the new MGM Music Hall at Fenway Park.
“We pride ourselves on exceptional customer service and we plan to continue our operations in that manner as we expand our offerings, with the support of SinglePoint,” Boston Solar CEO Mello Guimaraes said in a statement.
SinglePoint’s goal is to continue acquiring established full-service engineering, procurement and construction, or EPC, companies around the U.S. to expand its footprint and build out a nationwide network of service providers.
Citing the growth in the solar energy market that is expected to continue, the company said it intends to be a single point of contact for homeowners and business owners looking to add rooftop solar panels, energy storage or electric vehicle charging capability in their garages.
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