Business
Innovest Global Provides Acquisition Update: Authority National Supply Closing Rescheduled to First Week of November and Secured LOI for $12 Million Revenue and Profitable Acquisition in the Building Industry
Innovest Global Provides Acquisition Update: Authority National Supply Closing Rescheduled to First Week of November and Secured LOI for $12 Million Revenue and Profitable Acquisition in the Building Industry.
About this update from Innovest Global Inc
[{"type":"text","content":"\nCLEVELAND, Oct. 26, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Markets: IVST) (the “Company” or “Innovest”), a conglomerate with operations in commercial and industrial products and services, energy, biotechnology, and health services, announced today that we have signed a second Letter of Intent to acquire a company in the Construction and Building Materials Industry. The acquisition target generates $10-$12 million in annual revenue from contracts and is projecting $2.4 million in net income over the next year. This acquisition will mark the most profitable IVST acquisition to date, and is contingent upon due diligence and final documentation.\n The working relationship with Authority National Supply (“ANS”) continues to be effective as we plan for that Construction and Building Materials Industry acquisition. Tony Crookston and his ANS team celebrated with us at the investor open house, and the signing ceremony is officially rescheduled for Friday November 2, 2018 at noon at the Innovest World headquarters, in order to accommodate their needs. We sincerely thank our friends, stockholders, and the community for a spectacular evening of reflection and fellowship at our new headquarters. The event was a resounding success and resulted in strengthened relationships and a wonderful experience; much needed and much appreciated capping a year of very hard work by so many people. About Innovest Global, Inc.Innovest Global, Inc. (OTC Markets: IVST) is conglomerate with operations in commercial and industrial products and services, energy, biotechnology, and health services. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, a Biotechnology & Health Services Division, and our new Building Materials Division. For more information, please visit: http://www.innovestglobal.com, and follow us on Twitter and Facebook @innovestglobal. Forward-Looking StatementsThis 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....