Business
Innovest Global Acquires Midwest Curtainwalls, Adding $10 Million Revenue to Exit 2018 at $50 Million Annual Revenue Run-Rate
Innovest Global Acquires Midwest Curtainwalls, Adding $10 Million Revenue to Exit 2018 at $50 Million Annual Revenue Run-Rate.
About this update from Innovest Global Inc
[{"type":"text","content":"\nCLEVELAND, Dec. 24, 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 building materials, announces that it closed the acquisition of Midwest Curtainwalls (“Midwest”) on Friday afternoon.\n Innovest has now completed seven transactions to round out a business platform which features $50 million in annual revenue run-rate, from two operating divisions; as well as a Biotech Division, which owns an interest in a developmental brain cancer vaccine. Ninety percent of that revenue has been acquired in the last 45 days. The initial operating companies have grown by approximately 50% since acquisition, and have integrated synergistically. Dan Martin, Innovest’s founder, Chairman, and Chief Executive Officer started Innovest just one year ago. “We’ve added tremendous intrinsic value to Innovest, while issuing minimal stock, no long-term debt, no risky financing transactions, and a focused effort to grow those assets once acquired. Our 2019 plan will be announced soon and involves all of the tools and progress we will need to supercharge our growth and capture that value for stockholders,” he said. “Merry Christmas and Happy Holidays to all of our stockholders, which we appreciate greatly for their confidence. Their support has given us the momentum and opportunity to grow, and I’m extremely thankful to our team for serving that opportunity to an amazing level.” John Yenges, who has been running Midwest as EVP is now it’s President. “The acquisition was enthusiastically received by our client pipeline and our team, and I’m excited to couple Midwest with the philosophies and opportunities Innovest provides. I expect spectacular results,” said John Yenges. Dan Martin stated, “John doesn’t just ‘fit in’ with Innovest, he adds to Innovest. He brings a unique skillset, his own high energy, great ideas, and a motivated team. He’s a true professional and a wonderful person and we are all thrilled to work with him and the people at Midwest”. More about Midwest: Midwest (click here for their website) has been in business since 1959 and is an industry leader. Their...