New Product Pipeline Driving Sales with $1.5 Million in Contracted Design Builds
CLEVELAND, OH / ACCESSWIRE / September 29, 2020 / Innovest Global Inc. (OTC PINK:IVST), a diversified industrials company, announced it is experiencing rapid growth in the Building Solutions division, which provides design, build and manufacturing services for ground-up construction and build-outs in commercial and industrial facilities.
Building Solutions recently completed the asset purchase of a Charlotte, NC based general contractor that has been in business for over 20 years, a cash-flow positive business that will be rolled into the Innovest Global platform to realize cost synergies and drive sustained organic growth. The addition of this general contractor has expanded Innovest's capabilities beyond manufacturing to a fully self-performing business which increases margin while providing a true end to end solution for our customers.
Building Solutions now provides products including traditional stick frame construction, and recently launched unique modular manufactured living units for low to mid-rise applications and manufacturing of building envelope systems for low, mid- and high-rise construction. With the introduction of the two new products and a redefined approach the Company has been awarded just over $1.5 million in new contracts and anticipates several additional contracts in the next 60 days.
"The slowdown of new construction across the country earlier this year allowed us to evaluate each business segment of our company," stated Damon Mintz, Chief Executive Officer of Innovest Global. "With a new approach, product pipeline and acquisition, we are mitigating our risk through diversification and now seeing rapid growth. The next few months should be very exciting for the company as we expect multiple large contracts to be awarded by the end of 2020 bringing significant revenue to Innovest, and value to our shareholders."
About Innovest Global, Inc.
Innovest Global, Inc. (OTC: IVST) is a diversified industrial company applying technology and innovation to provide value-added solutions across multiple business markets. Innovest Global builds long-term shareholder value by acquiring established industrial businesses on favorable terms, realizing synergies and achieving organic growth through investments in innovative technology and business systems. For more information, please visit www.innovestglobal.com.
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.
Investor Contact:
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
IVST@mzgroup.us
www.mzgroup.us
Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com
SOURCE: Innovest Global Inc.
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