SACRAMENTO, CA, Sept. 04, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Spotlight Growth has published new content on Innovest Global, Inc. (OTC PINK: IVST). Innovest Global, Inc. is a diversified holding company that focuses on acquiring niche, high-growth businesses that are capable of generating significant annual revenue. The company’s planned subsidiaries operate across telehealth, biotech, commercial energy, business-to-business distribution, national call center and auto sales.
The report provides an overview of Innovest Global, Inc., its subsidiaries, financials, US construction industry analysis, global construction industry analysis, building materials, and more.
Statista: U.S. Construction Spending Forecast To Increase From $1.23 Trillion In 2017 To $1.53 Trillion In 2022
Construction activity can serve as a litmus test for the health of the overall economy. During times of economic expansion, construction activity is largely robust and active. Meanwhile, downturns tend to slow or nearly halt construction activity.
According to Statista, United States construction expenditures came in around $1.23 trillion in 2017. The market research firm estimates that U.S. construction spending will increase from $1.23 trillion in 2017 to $1.53 trillion in 2022.
Statista sees a lot of positive signs that strong construction growth within the United States is set to continue over the next several years. Statista notes that aging U.S. infrastructure is a major issue that will require a significant boost in construction in order to properly update our bridges, roads, and other key public facilities.
According to the Construction Intelligence Center (CIC), the global construction industry is expected to have strong performance over the next several years as well.
In December 2017, the CIC released report forecasting that the global construction industry will see growth of 3.6% between 2018 and 2022. However, the CIC released an updated report in April 2018, which increased its growth estimate to 3.7% between 2018 and 2022.
While this may not seem like much at first glance, “in real value terms (measured at constant 2017 prices and US$ exchange rates), global construction output is forecast to rise to US$12.4 trillion in 2022 from US$10.4 trillion in 2017,” according to the report.
IVST: Expected To Close On Building Materials Acquisition Early September 2018
The Cleveland, Ohio-based conglomerate continues to rapidly expand thanks to key acquisitions and thriving organic sales growth. Innovest Global, Inc. maintains two active divisions: Commercial & Industrial and Biotech & Health Sciences. The Commercial & Industrial division has been the key revenue growth driver for Innovest, which is currently producing annual revenue of $4.5 million, as of the end of August 2018.
Innovest Global management team has been extremely busy with its pending mega-acquisition of a building materials company, which produces $30 million in annual revenues. Once the building materials company is acquired, it will serve as Innovest Global’s third division.
Management has detailed the serious of events that has took place earlier this year between Innovest and the target building materials company. The initial discussions began back in March 2018, followed by formal negotiations in April 2018.
In June, Innovest management formally proposed the acquisition pitch to the target company’s board of directors. Upon conclusion of the presentation, both parties had signed and executed a Letter of Intent (LOI) document.
In late August 2018, it was announced that both parties have effectively reached an agreement on the acquisition transaction structure and long form documents. Under the agreed terms, Innovest will acquire 100% ownership of the target entity and will issue 5 million common shares (restricted) and a high-five figure cash payment in exchange.
“This transaction represents a substantial, over five-times increase in Innovest’s revenue, and marks entry into its third industry sector. This is a transformational acquisition for Innovest. Because of the revenue, but also because the leadership of the organization is world class, well respected in their industry, and has a vision and plan for growth that I believe is highly likely to succeed in our model once we hit the switch,” detailed Innovest Global CEO Dan Martin.
In other news, the biotech division, led by Dr. Dwain Morris-Irvin, will be attending the 48th Annual Society for Neuroscience Conference and the BIO Investor Forum. The Society for Neuroscience will take place between November 3-7 in San Diego, California. The BIO Investor Forum will be held in San Francisco, California between October 17-18.
Innovest Global will be featured in Delta Sky Magazine’s October Biotech Special Edition issue. The Delta Sky Magazine is the official in-flight magazine for Delta Air Lines, Inc. and has readership of around six million highly-engaged passengers.
Innovest Global was recently featured on an episode of Spotlight Growth Live, a video web-series highlighting emerging growth companies. To view the video, please visit: https://spotlightgrowth.com//video/
For more information on Innovest Global, Inc., please visit http://innovestglobal.com and https://spotlightgrowth.com//2018/09/03/as-us-and-global-construction-outlooks-remain-strong-this-building-materials-company-could-be-a-major-benefactor/
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