Details of Innovest Global Inc. Rapidly Growing $4 Million Revenue Commercial & Industrial Division Released, and Plans to Continue Triple Digit Growth
CLEVELAND, May 16, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC PINK:IVST) has released the details behind its Commercial & Industrial division, which in a few short months has gone from zero to over $4 million in annual revenue run rate. The Innovest Commercial & Industrial Division is an exceptional growth story in the Commercial & Industrial space. The division has multiple organic growth hotspots, and acquisition candidates in the pipeline, both of which are strategies management anticipates will continue to fuel Division sales growth.
The Commercial & Industrial Division is comprised of three offerings to Commercial & Industrial clients: Energy, Services, and Durable Goods.
Energy: Procurement, Consultation, and Efficiency Solutions
Launched with the acquisition of Shepherd Energy and Shepherd Solutions, the Innovest Energy Group is leading the revenue growth curve with a model that, according to the 2017 Power and Utilities Trends report by PwC, is a perfect match with current trends in the industry that are a “Blueprint for a Service Based Model”.
Lifelong energy expert and executive Damon Mintz, CEO of Shepherd, is now also the Innovest Commercial & Industrial Division President. “Bringing Shepherd under the Innovest umbrella was a big leap of faith for us at the time, and was the best business decision I’ve ever made,” said Mr. Mintz. “My partners and I have the best of both worlds - a growing ownership stake in Innovest, and a platform to grow our vision and build the Energy business with much greater potential.” That vision includes the proprietary “LEEP” financing program, which is a zero out of pocket financing program for clients, that uses savings to pay for upgrades. LEEP is a huge factor in closing sales that may not have otherwise closed. Also part of that vision is the unique pole-mount technology known as “DCR”, or Demand Cost Reduction Unit, which reduces electricity demand charges.
H.P. Technologies, an Energy business owned by industry pioneer Dennis Giancola, also joined the Innovest Energy Group. Dennis was Ohio’s first independent commercial energy broker. He is a Board Member of Energy Professionals of Ohio. H.P. is exceptionally suited for national growth, having the distinction of being licensed for both gas and electric in all deregulated states. “This is an unprecedented time of opportunity in the Energy business,” Mr. Giancola said. “I’m determined and frankly, fired-up, to be part of a team that is so focused, and so well equipped to go after it.”
Combined, these two companies provide a nationally scalable presence in energy procurement, and efficiency solutions, and offer baseline consultation services to clients.
Services: Customer Service and Digital Marketing
Innovest acquired Crestwood, and other entities to create the Innovest Call Center, which is a full service inbound and outbound customer service and sales center, expanding into Digital Marketing services. Innovest’s Call Center is PCI Compliant, SAS 70 Type II Certified, FDCPA Compliant, is an ACA International member; and has many internal controls, policies, and procedures that add to client confidence.
Sally Emch, President of Call Center Operations, said, “Because of our high compliance standards and certifications, we frequently win bids in industries such as Utilities, Healthcare, Government, and Financial Services, and have an advantage to win less stringent client campaigns.” The center typically staffs up to 50 associates for servicing client programs, and is capable of scaling immediately to several hundred, upon demand.
Durable Goods: 50,000 OSHA SKU’s, Expandable to Other Durable Goods
The acquisition of Ohio-based Chagrin Safety Supply is a beachhead entry into the business-to-business durable goods market. Chagrin has 35 year history, including having been awarded the master contract post-911 from the US Postal Service to supply nitrile safety gloves to the nations 44,000 post offices.
“Chagrin has a great history, and Innovest has truly given us and the other umbrella companies an incredible track to run on, a lot of value, and all the tools we need to take business to the next level,” said Bill Oler, Founder and President of Chagrin.
Look for much more information to come soon. Innovest will increasingly use Twitter, which can be accessed both on Twitter @innovestglobal and on the front page of our website www.innovestglobal.com, for important company updates. This includes information that may be material, so please follow us and visit our website regularly! For more information on Innovest contact [email protected], or call Innovest investor Relations Matt Rego at 216.815.1122.
Safe Harbor Statement: This news release contains "forward-looking statements", which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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