Advanced Roofing Inc. Acquires MSC Electric
Advanced Roofing Inc. Acquires MSC Electric To Meet Surging Corporate Demand for Solar Energy in Florida
As corporate demand for solar energy rises statewide, Advanced Roofing, Inc. (ARI), Florida’s largest commercial roofing and solar contractors, have acquired Davie-based electrical contractor MSC Electric Inc.
“Adding MSC’s proven talent to our team enables us to streamline schedules, control costs and be a single source for commercial clients, whether we’re helping them meet aggressive renewable energy goals, or update roofs with more durable, energy-efficient systems,” said Clint Sockman, ARI vice president. Terms of the acquisition were not disclosed.
Founded in 2001 by Michael Cervone, a Florida Licensed Unlimited Electrical Contractor, MSC Electric is a longtime subcontractor of ARI on major commercial re-roofing and solar energy projects throughout South Florida. The electrical contracting firm’s staff joins ARI’s solar energy division Advanced Green Technologies (AGT), one of the top commercial solar contractors in North America. Cervone will serve as electrical division manager overseeing all electrical functions, from design through installation, for ARI’s solar and commercial re-roofing projects.
“As more Fortune 500 and other high-profile companies commit to being carbon neutral by 2025 or 2030, their need to produce enough renewable energy is pushing demand for commercial solar energy to record levels in Florida,” said Sockman. “Once corporations adopt policies to reduce their sizeable carbon footprints, the clock is running. They must consider all alternatives based on their real estate portfolios, and we find rooftop solar arrays and solar carports are always under discussion.”
Sockman expects ARI’s revenues, which topped $95 million in 2018, to continue growing this year, fueled in part by the rise in solar energy demand. “The vision of corporate America is clear. They need to quickly find ways to produce more renewable energy,” he said. “Fortunately, the economics of solar energy has never been better.”
As costs of carbon-based energy rise, federal tax credits for 30 percent of commercial solar energy installations’ costs are available until year-end 2019. Companies can access those tax credits if they begin solar projects and spend at least five percent of projected costs during 2019.
Acquiring MSC Electric is the latest vertical integration step for ARI, a diversified corporation whose additional Florida licenses include Roofing Contractor, General Contractor, Solar Contractor, and Air Conditioning Contractor. Headquartered in Fort Lauderdale, ARI has offices in Miami, Jupiter, Fort Myers, Tampa, Sanford and St. Augustine. In addition to commercial reroofing maintenance and sheet metal services, ARI brings clients single-source access to award-winning solar energy design/build solutions, commercial HVAC installation and repair, construction cranes, lightning protection services and the benefits of advanced construction technology and volume pricing.