With Board and Management Changes, Company is Poised to Execute on OTC Uplist Process and Future Growth Plans
CLEVELAND–(BUSINESS WIRE)–October 8, 2019–
Innovest Global Inc. (OTC Markets: IVST), a diversified industrials company, announced the appointment of Indrani Egleston as the Executive Vice President, Chief Financial Officer; and the appointment of Damon Mintz and Tim Figley to the Innovest Global Board of Directors.
Dan Martin, Chairman and CEO stated, “In the short period of time that Indrani has been at Innovest she has had a meaningful impact on our business and team. She has led the implementation of our cash management system and made significant progress on our financial statement audit both of which support our strategic plans to uplist and establish a proper controls environment as a public company. Tim and Damon have been key contributors to our significant progress in a short period of time. Their input as directors, and the expansion of our board from three to five members will serve shareholder interests well as we evaluate the next phase of opportunities and continue forward with our growth plans.”
Innovest’s two previously appointed independent directors, John Klopp and Jason Painley will continue their service. Mike Yukich, Innovest Global’s prior Chief Financial Officer will remain on in a consulting role to help ensure a seamless transition through the 2019 financial reporting cycle. Mr. Yukich has served as the Company’s CFO since August, 2017 and assisted in planning this transition when Ms. Egleston was initially appointed to her previous role.
Martin continued, “On behalf of the board of directors, the management team and myself, we are truly appreciative for Mike’s contributions to Innovest Global. His dedication was instrumental in getting the Company to where we are today.”
The changes to the management team coupled with the Board of Director appointments allow Innovest Global to move forward with laser focus on its growth plans including actions to finalize the uplist process. The Company’s 2018 audit is nearly complete and requirements for uplisting are being reviewed and addressed by the management team. These activities were in conjunction with the Company’s first investor conference in New York on September 16-17, 2019 which further improved Innovest Global’s position with key investor targets.
Furthermore, Innovest Global is wrapping up its planned spinout of its Biotechnology holdings, and diligently pursuing acquisition targets with a focus on profitable growth in diversified industrial markets and elsewhere. The Company’s acquisition model provides middle market businesses a platform for succession and support to facilitate structured and rapid grow through means that may otherwise not be available.
About Indrani Egleston
Ms. Egleston joined Innovest Global as the Executive Vice President, Finance & Controls in August 2019. 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.
About Damon Mintz
Mr. Mintz is the President of Innovest Global. During his tenure, he has successfully completed four acquisitions growing the Company from $55 thousand in sales in 2017 to over $30 million in sales in just the first half of 2019 while at the same time establishing the foundation for the Company’s operational execution, values and culture. Mr. Mintz has an extensive track record of successfully building and growing businesses in multiple industries including Energy, Internet / Software and Health Services. After completing his college studies he started his first business, which acquired approximately 50,000 residential, and small commercial energy customers, and generated over $30 million per year in revenues. Since then he has owned and consulted for commercial and industrial companies ranging from mid-sized, to a multi-billion dollar public company, and most recently founded the single source procurement, management, and energy efficiency company which was Innovest’s second acquisition and first entry into the energy market.
About Tim Figley
Mr. Figley is the Chief of Staff for Innovest Global and works daily with the management team to achieve the Company’s short and long-term objectives. Over the past 35 years Mr. Figley has been responsible for growing an organization from startup to $200 million in sales, where he ran operations and supported the owner in a business which featured six locations with unique cultures, and over 400 employees. Mr. Figley has extensive experience growing businesses, he has built dozens of commercial properties, owned an eight figure semiconductor distributorship, a residential real estate development, oil and gas partnerships and a youth center.
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) is a diversified industrial company providing value-added solutions across multiple business sectors. The Company’s Energy sector provides energy consumption solutions for high-use commercial and industrial customers to lower demand, improve utilization and drastically reduce spending. The Building Materials sector includes a distributor of building supplies and fabricator of large commercial building products nationally. The Company has a commitment to building long-term shareholder value through acquisitions and organic growth achieved through the “Innovest Way”, the Company’s internal path to success. For more information 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, EVP, Chief Financial Officer