SinglePoint Announces 2 Acquisitions Within 1 Week; Expects To Significantly Expand Client Base And Revenue Opportunities

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SinglePoint, Inc. SING recently announced the acquisitions of The Boston Solar Company, LLC and entered into a Definitive Purchase Agreement with Frontline Power Solutions.

About Boston Solar

Boston Solar is a leading solar installer based in Massachusetts, booking $17.7 million in revenue for FY2021. It is estimating revenues of at least $25 million in 2022, with more than $16 million already contracted and in the installation pipeline. Boston Solar is the first of multiple acquisitions the company intends to close this year. Closing this acquisition starts the timeline for SinglePoint to start its up-listing application process to achieve the goal of a NASDAQ listing in 2022.

SinglePoint plans to continue expanding its operational footprint as it acquires additional full service solar EPC (Engineering, Procurement & Construction) companies throughout the nation. The company is targeting established solar companies in specific markets that can complement each other and yield synergies and economies of scale. The company's acquisition plan will grow the revenue and profit base and will position SinglePoint for significant growth going forward. With recent government funding initiatives announced and periodic interruptions to the power grid, homeowners, business owners and small commercial owners are searching for ways to ensure that they have access to constant and dependable power.

Why SinglePoints Considers It Significant

Solar energy accounted for 46% of all new electricity generated in 2021 and the market is expected to grow at a 10% CAGR over the next 5 years as per the latest report by Technavio. Solar and the Renewables market, including Energy Storage and EV Charging, is a long-term opportunity as the current addressable market for residential and small commercial market penetration remains largely underserved with reportedly less than 4% of the market covered. Over the last decade, solar pricing has drastically decreased, making the transition to solar more economically attractive to consumers. Lower prices, coupled with demand for energy independence and resilience, sets the stage for SinglePoint to establish market leadership within the renewable energy space.

SinglePoint has established rigorous criteria for future acquisitions as they expand their reach and increase value for customers, the business, and their shareholders. Over the next 18 months, the company plans to add additional high-quality regional installers to build out a nationwide network of service providers. The company aims to be the single point of contact to support homeowners and business owners as they move toward utilizing renewable energy sources, from solar panels on the roof, to energy storage, and the EV charger in the garage. SinglePoint and its subsidiaries will be the premier option with white glove service and lifelong relationships.

SinglePoint to start its up-listing application process to achieve the goal of a NASDAQ listing in 2022.

About Frontline Power Solutions

Frontline specializes in electrical supply, demand response and energy efficiency programs in most deregulated markets. Frontline has established itself as a formidable competitor with a growing market share while providing best-in-class customer service and retention.

Why SinglePoint Considers It Significant

As Frontline Power acquires new clients and renews existing contracts, there are tremendous revenue opportunities as more clients turn toward energy independence and off-grid sustainability. Finalizing this acquisition puts SinglePoint and its core subsidiaries in a position to offer a full suite of power solutions, whether by self-generation or by preferred power purchase agreements. The ability to now offer wholesale power supply, solar power generation and energy storage to Frontline’s clients will further differentiate SinglePoint and Frontline as they expand service offerings to meet and exceed the energy requirements of existing and future clients. 

SinglePoint plans to continue to add companies through opportunistic acquisitions that have products and services that align with their strategic goals. The company will continue its aggressive expansion plan to be the leading national network of solar services as well as continue to drive its burgeoning indoor air quality business segment. 

There are currently 26 US states that offer deregulated power options, which is expected to reach $9 billion in industry revenues. Energy deregulation allows for companies to compete for business within varying regions, offering attractive pricing or consumer benefits. As more companies get involved in the deregulated energy market, prices will be driven lower. Frontline stands out against other providers with their experienced team, and top-notch customer service. Adding renewable energy solutions to their established brand recognition will position Frontline as the premium provider. 

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.