CLEVELAND, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Markets: IVST) (the “Company” or “Innovest”), a conglomerate with operations in commercial and industrial products and services, biotechnology, and construction & building materials, is happy to recap the tremendous success in October and the first week of November. The company opened a new global headquarters; held a stockholder open house; closed an acquisition; announced a new eight-figure LOI; Innovest Energy Group had it’s best month ever with $250,000 in new contracts and six figures of revenue; our Call Center had it’s best Month in company history signing $508,000 in new contracts; our Safety Supply Group delivered on it’s first US Navy contract generating $150,000 in revenue.
Innovest Global moved into its new world headquarters on October 1st making it the only publicly traded company in Geauga County Ohio!
The company closed the acquisition of Authority National Supply (ANS), which has generated $22.8 million in revenue through the first three quarters of 2018, after $24.5 million in annual revenue in 2017. ANS was IVST’s sixth acquisition to-date.
We announced that the company has entered into a LOI to acquire Midwest Curtainwalls, which currently has an annual revenue run-rate of $12 million.
Shepherd Energy had its best month in history recording $250,000 in new contracts and six figures in revenue.
Contact Source Solutions hired 10 new people and was awarded new contracts totaling $508,000 in annual billing adding to it’s previous $600,000 annual contract.
Chagrin Safety Supply delivered an order worth $150,000 to the US Navy, which is the companies First Navy contract.
Innovest Global Inc also submitted two (2) years of PCAOB Audited financials and began providing disclosures to OTC Markets, which are requirements for application to the OTCQB Venture Market trading platform for IVST, currently trading on the OTC Pink Market.
After selling Shepherd Energy to Innovest, Damon Mintz first advanced to Division President and has now referred and managed successful acquisitions across multiple divisions. Chairman and Chief Executive Officer, Dan Martin, has this to say, “We continue to evolve roles to best serve the company and certainly Damon is leading the charge not only with continued record sales growth, and with his ‘Source of Strength’ initiative we implemented earlier this year, but also on our acquisitions such as ANS, and our company positioning. He understands Innovest intuitively and has the personal characteristics to execute with the level of speed, excellence, and attention to detail, required by our growth and appreciated by our stockholders. He is a high integrity person who is focused on growth like few people I have ever seen, and a natural fit for the President role as we continue our exponential growth.”
Mr. Mintz was recapping results and potential acquisition targets, and stated, “We are very excited about our newly announced LOI to acquire Midwest Curtainwalls and continue to be encouraged by the strong organic growth of our exiting holdings. The addition of ANS to the IVST family of companies has also opened the door to several other opportunities in the building supply distribution industry. Its great to be in business with great people! We continue to benefit from amazing people choosing to be part of the Innovest team”.
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) is a conglomerate with operations in three divisions, which include commercial and industrial products and services, energy, biotechnology, health sciences, construction, and building materials. The primary growth strategy of Innovest Global Inc is to acquire existing companies in a select few industries and attract new customers in cost effective ways. Currently, Innovest Global Inc has a Commercial & Industrial Division, a Biotechnology & Health Services Division, and a new Construction & Building Materials Division.
For more information, please visit: http://www.innovestglobal.com, and follow us on Twitter and Facebook @innovestglobal.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contact Information
Corporate Office:
(216) 815-1122
info@innovestglobal.com
Twitter @innovestglobal
Investor Relations:
Hayden IR
(917) 658-7878
hart@haydenir.com