Cleveland, Ohio (December 24, 2018)—Innovest Global Inc. (the Company or Innovest), a conglomerate with operations in commercial and industrial products and services, biotechnology, and building materials, has announced that it closed the acquisition of Midwest Curtainwalls (Midwest).
Innovest has now completed seven transactions to round out a business platform, which features $50 million in annual revenue run-rate from two operating divisions, as well as a Biotech Division, which owns an interest in a developmental brain cancer vaccine. Ninety percent of that revenue has been acquired in the last 45 days. The initial operating companies have grown by approximately 50 percent since acquisition and have integrated synergistically.
Dan Martin, Innovest’s founder, chairman and chief executive officer, started Innovest just one year ago. “We’ve added tremendous intrinsic value to Innovest, while issuing minimal stock, no long-term debt, no risky financing transactions and a focused effort to grow those assets once acquired. Our 2019 plan will be announced soon and involves all of the tools and progress we will need to supercharge our growth and capture that value for stockholders,” he said.
John Yenges, who has been running Midwest as executive vice president, is now its president. “The acquisition was enthusiastically received by our client pipeline and our team, and I’m excited to couple Midwest with the philosophies and opportunities Innovest provides. I expect spectacular results,” said John Yenges.
Dan Martin stated, “John doesn’t just fit in with Innovest, he adds to Innovest. He brings a unique skillset, his own high energy, great ideas and a motivated team. He’s a true professional and a wonderful person, and we are all thrilled to work with him and the people at Midwest”.
Fore more information, visit innovestglobal.com.
