Authority National Supply (ANS) adds Four New Members in First Sixty Days Since Being Acquired by Innovest
CLEVELAND, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Markets: IVST) (the "Company" or "Innovest"), a conglomerate with operations in commercial and industrial products and services, biotechnology, construction and building materials, continues exceptional organic growth, this time announcing that its Construction & Building Materials Division, anchored by ANS, closed four new members in January and February, adding an expected $5.2 million dollars in revenue for 2019.
ANS added a single new client in the previous two years, and this announcement is exactly the growth track ANS CEO Tony Crookston and Innovest president Damon Mintz envisioned when the acquisition closed. “Starting the year with four new members representing 17% revenue growth is exactly the Innovest model as I’ve come to know it,” said Crookston. “Innovest is focused on growth, and strength, and working with me to make the ANS vision a reality. I’m impressed and couldn't be happier with our initial progress.” These early gains support Innovest’s guidance released last week of 20% organic growth to $50 million in gross company sales for 2019, and strongly reinforce Innovest’s focus on adding value to the company.
The new, proudly-welcomed members are Prairie State Exteriors, 55 Building Supply, Butler County Edge Co, and Acorn Roofing Supply. Brent Fening, owner of Butler County Edge, stated, "After 20 years of being in business, one of the hardest aspects of staying profitable is the ability to compete with the larger roofing distributors. We are very excited to join ANS. We look forward to working with a group of businesses like our own to increase our purchasing power and strengthen our business."
The “Source of Strength” is a philosophy at Innovest which places a focus on making its subsidiaries as strong as possible, resulting in their success and therefore Innovest’s success.
Look for much more to come soon on a variety of open initiatives!
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) is a 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 Division, and a Construction & Building Materials Division.
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