With strong first half 2019 sales over $30 Million, Innovest Global continues into next phase of growth with the addition of a seasoned finance professional Indrani Egleston and targeted Institutional Investor efforts
CLEVELAND–(BUSINESS WIRE)–$IVST–Innovest Global Inc. (OTC Markets: IVST), a diversified industrials company, announced the appointment of Indrani Egleston as the Executive Vice President of Finance and Controls effective immediately. Ms. Egleston brings strong financial and professional public company experience to Innovest Global. She has held various strategic leadership financial roles including Internal Audit, Controlling, Financial Planning and Analysis and Mergers and Acquisitions throughout her tenured career at Covia Holdings Corp. (NYSE:CVIA, formerly Fairmount Santrol NYSE:FMSA), Nordson Corporation (Nasdaq:NDSN), and PWC LLP. Ms. Egleston holds an Executive MBA from Case Western Reserve University and a BBA from the University of Michigan and will oversee our finance, accounting, internal control, and investor relations functions.
The Company’s CFO, Mike Yukich, will continue to provide operational and tactical execution, and was instrumental in defining the requirements which led to the appointment of Ms. Egleston.
Dan Martin, Chairman and CEO, stated, “Indrani’s appointment to our Executive team is an important milestone, adding extensive public company finance, internal controls and strategic planning capabilities to our world-class team. I am confident in Indrani’s abilities to elevate our company, pioneer financial and capital planning, and identify opportunities where we can deliver greater value for all of our stakeholders.”
With the addition of Ms. Egleston to the Innovest Global Executive team, the Company is establishing plans to finalize the uplist requirements designed to position the Company to leave the ‘pink sheets’ this fall. The Company will also be attending key institutional investor conferences this fall targeting industrial focused investors attracted to Innovest Global’s rapid growth and unique value proposition.
The investor conferences feature presentations to potential institutional partners followed by one-on-one meetings. The targeted conferences includes a New York City event and Toronto event in the third and fourth quarter 2019 with a focus towards mid-cap investment institutions within North America and Asian investors who have an expressed interest in industrial business lines.
Mr. Martin continued, “We thank our supportive and patient shareholders for giving us the ability to focus on growing a meaningful business which includes establishing a strong executive team. By prioritizing business growth first, we’re confident the approach to an institutional audience will be even more successful at generating interest in our company. Investor conferences coupled with continued strong revenues and compliance upgrades, are a path we feel will well-position the Company for executing its 2020 plans.”
This news follows last week’s announcement of second quarter 2019 financial results for the quarter ended June 30, 2019. Second quarter 2019 net sales were $17.3 million; an increase of $16.2 million from $1.1 million in the second quarter 2018, and $4.4 million or 34% higher compared with $12.9 million in the first quarter 2019. Year to date through June 30, 2019, net sales were $30.2 million, over 20% ahead of year to date 2019 guidance (click here for guidance).
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) has operations in industrials (commercial and industrial products and services, energy, and building materials) and investments in biotechnology. Our primary growth strategy is to acquire existing companies in a select few industries and attract new customers in cost effective ways. For more information follow on social media @innovestglobal or visit http://innovestglobal.com.
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.
Indrani Egleston, Executive Vice President of Finance and Controls