CLEVELAND, May 02, 2018 (GLOBE NEWSWIRE) -- Innovest Global, Inc. (OTC PINK:IVST) Commercial & Industrial Division has signed a Letter of Intent to acquire an Energy business specializing in forensic energy auditing, and energy reduction strategy recommendations for high energy use clients.
Innovest has signed of a Letter of Intent to acquire 100% ownership of the company, which is a perfect foundation for the “consultancy” pillar of the one-stop business model. The Energy Group business model is consultancy, procurement, and efficiency solutions for high energy use clients. If completed, this acquisition would be the fourth so far this year for the Commercial & Industrial Division.
The business model of the target company is to conduct forensic energy audits for organizations, and then make recommendations for cost savings. In the consolidating Energy industry, Innovest Energy Group is on the leading edge of the desire these clients have to obtain the energy procurement and efficiency solutions from a single source. By having nationwide procurement, and solutions like the Demand Cost Reduction telephone pole mounted unit launched last month, acquiring a best-in-class consultancy firm would provide a comprehensive client solution, as well as an immediate pipeline for new business.
It has been a busy month at Innovest, for both the Commercial & Industrial Division, and the forthcoming Biotechnology & Health Sciences Divison. Look for much more information to come soon. As noted consistently, the company will increasingly use Twitter, which can be accessed both on Twitter @innovestglobal and on the front page of our website www.innovestglobal.com, for important company updates. This includes information that may be material, so please follow us and visit our website regularly! For more information on Innovest contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.
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