Listen to this articleBelow is our recent interview with Damon Mintz, President at Innovest Global Inc.:
Q: Please explain to the readers what Innovest Global Inc.(IVST) does in general terms?
A: In 2018, we invested $1.3 million and created $64.5 million in shareholder value, with an 1,800% increase in our price per share. As a diversified publically traded industrials company, we sell a variety of products and services to business clients. We also have a biotechnology division focused on owning intellectual property. We have a history and goal to create and increase the value to our shareholders everyday. We do this by successfully acquiring good companies that fit our model, and then help these companies reach their fullest potential throw organic growth strategies as well as bolt-on acquisitions. We acquired and integrated six companies in 2018.
Q: With the very notable growth that Innovest was able to achieve in 2018, what were some of the challenges that the company was able to overcome?
A: We had to rapidly put systems and structures in place to organize and compress our acquisitions into divisions. We were fortunate that we acquired companies which had great people, and a team that rallied around the mission and understood that we could create a lot of value by streamlining and growing these exciting businesses.
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Q: We recently saw the press that the company had the largest single month of revenue which was in January, $3.2M, can you tell the readers what your expectations are for growth this year since you have already started off the year at a fast pace?
A: We’ve proven we can acquire companies with good deals that create value. The most important thing we need to prove next is our ability to grow sales. Our CEO stated in our annual letter to shareholders that our guidance for 2019 was 20% organic growth for the 7 entities that we currently have, to $50 million in gross sales. We have already seen 17% organic growth in terms of contracted revenue for this year, so I’m very excited that we are starting the year very strong.
Q: Recently, IVST announced a million dollar sale that was the result of several Innovest Global Companies working together, can you comment on the process of integration that you yourself have implemented since taking over as president?
A: Yes, again it’s all in our people. I’ve clearly communicated the mission to a group of very talented people who are rallied around a common goal, and understand that sales success creates shareholder value. All of our key people are shareholders. Given our price per share increase to date, it’s an easy concept to communicate. We’re working together on sales solutions very effectively right now, and we spend a lot of time brainstorming solutions for clients. The million dollar contract for an NYSE company you are referencing came from that collaboration.
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Q: What’s it like to have gone from just seven employees in 2017 and into 2018 and to now have over 90 employees?
A: It’s been the most fun I’ve ever had. Our motto is “We Create Amazing” and that’s a philosophy that seems to create unlimited optimism and creativity with our amazing team. I’m so excited to see how our 2019 progress I think we will make, will position us for the future.
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