Contract with GAF, a new private label line, and a pending storefront acquisition highlight vertical integration and growth as Innovest consolidates its Industrial holdings
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, 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.
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