Innovest Global Inc. (IVST)

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Innovest Global Inc. Acquires Safety Supply Distributor With Long History of ExcellenceFont size: A | A | A
2:42 PM ET 10/23/17 | GlobeNewswire
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Innovest Global Inc. Acquires Safety Supply Distributor With Long History of Excellence

CLEVELAND, Oct. 23, 2017 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC PINK:IVST) opens its business-to-business sales division today by acquiring Chagrin Safety Supply.

The acquisition of Ohio-based Chagrin Safety Supply (https://chagrinsafetysupply.com) will serve as a beachhead entry into the business-to-business durable goods market, as part of Innovest's diversified strategy. The history, and extensive variety of safety supplies and equipment sold by Chagrin, is a natural compliment to the offerings of several of Innovest's distribution targets. 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. As part of the acquisition, Bill Oler will continue to serve as its President, and additionally as part of the Innovest management team.

Bill Oler has more than 40 years' experience in the Healthcare and Safety fields. Prior to founding Chagrin Safety Supply in January 1988, Bill was Vice President, Operations, University Hospitals of Cleveland, the major teaching affiliate of Case Western Reserve University. In 2013, Bill was elected to the Board of Directors of the Solon Chamber of Commerce. Four months later, he founded the Western Reserve Safety Council, a not-for-profit partnership between the Solon Chamber of Commerce and the Ohio Bureau of Workers' Compensation, and has since served as its Steering Committee Chair to this day.

Bill earned his undergraduate degree from Villanova University (BA) and his Masters' Degree in Hospital and HealthCare Administration (MHA) from the University of Minnesota. Bill is married, has 2 daughters, one son and a grandson. He is a proud 12 year member of the Geauga Blue Coats, a non-profit organization whose mission is to fund college education for the children of fallen first responders.

"Bill and his team have always been high-impact professionals. This is a great transaction for many reasons, and we're looking forward to their expertise and impact, and couldn't be more proud to welcome the Chagrin team to the Innovest family," said Innovest CEO, Dan Martin. "We're excited to have hit the switch on revenue generation and to be closing our first transaction. We will be well positioned entering our stride in 2018."

Innovest's diversified holding company model, and their focus on efficient customer acquisition and reduced risk, are the core tenets of what the company hopes will create significant value for their shareholders.

For more information, contact [e-mail], or call Innovest investor Relations at 216.815.1122.

www.innovestglobal.com

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.

> Dow Jones Newswires

October 23, 2017 14:42 ET (18:42 GMT)