Innovest Global Secures ‘Tier 1’ Manufacturer Buying Agreement, Will Add Several Million Dollars in 2019 Sales Volume
April 2, 2019
Contract with GAF, a new private label line, and a pending
storefront acquisition highlight vertical integration and growth as
Innovest consolidates its Industrial holdings
CLEVELAND–(BUSINESS WIRE)–Innovest Global, Inc. (OTC Markets: IVST),
a diversified industrials company, announces that its building materials
division (ANS)
has secured an agreement to procure roofing products from Tier 1
manufacturer GAF
at considerable discounts, which will result in an estimated $9 million
in additional gross sales to existing ANS clients in 2019.
This follows news
from March 4th that Innovest has signed a letter of
intent to acquire a retail building materials supply company, and from
February 8th that ANS
is growing significantly since being acquired by Innovest late 2018.
ANS is also launching a private label line of building materials named
‘New Glory Building Products.’ The line is part of a broad growth plan
initiated by ANS CEO Tony Crookston, and is expected to add to the
profitability of the company. New Glory has begun with the following
products:
- Starwrap Synthetic Underlayment
- Alco Ice Guard
- Sprouse Windows
- Coil Nails
These developments signify the strong focus at Innovest to operationally
compress, grow, and vertically integrate the industrial companies
acquired in 2018.
“With tremendous acquisitions in late 2018, our founder and CEO Dan
Martin set an aggressive agenda for 2019. We are compressing and growing
our industrial holdings, exploring select additional acquisitions, and
accomplishing several corporate milestones including both compliance
initiatives and maximizing our biotechnology initiative,” said Damon
Mintz, president of Innovest. “We’re investing in our foundation, adding
key team members, and every member of our team is performing at a very
high level. We’re very proud of our people. Our goals for 2019 are to
achieve our mid-eight figure revenue objectives, and have the elements
in place to grow significantly. We want to be poised to compete in 2020
with what we consider to be the best publicly traded industrials
companies. Innovest is truly a high energy, enthusiastic environment
right now and we’re all very excited with the progress.”
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST)
has operations in Industrials (commercial and industrial products and
services, energy, construction, and building materials ) and diversified
holdings in biotechnology. Our primary growth strategy 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 Construction & Building Materials Division.
For more information, please visit: http://www.innovestglobal.com,
and follow us on Twitter @innovestglobal.
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Contacts
Corporate Office:
Dan Martin
(440) 644-1027
Investor Relations:
(216) 815-1122
[email protected]