CLEVELAND--(BUSINESS WIRE)--Innovest Global, Inc. (OTC Markets: IVST), a diversified industrials company today announced the company has signed a Joint Venture (JV) Agreement with Entrust Energy. The JV marries two of the fastest growing companies in their respective markets. It leverages Innovest’s energy knowledge and call center infrastructure with Entrust’s best practices and energy offerings for commercial clients.
Under the agreement Entrust Energy will staff a representative at the Innovest Global Headquarters to manage a brand new team of energy business development specialists provided by Innovest. They will utilize best practices to continue aggressive growth initiatives that both companies saw as a natural fit.
“Entrust Energy is very excited to be working with Innovest Global and its family of companies. We see this new relationship as a unique and mutually beneficial partnership in the commercial deregulated energy space,” said Mike Beck, Entrust President.
“Mike Beck and the Entrust team have built one of the fastest growing private companies in the country. We have a lot in common. Innovest is thrilled to be joining forces with them in this niche growth effort that provides us several attractive benefits,” said Damon Mintz, Innovest President.
Innovest plans to hire seven (7) people immediately for this effort. Entrust Energy was founded in 2010 and had 2017 revenue of $209 million, and 155 employees. They are one of the fastest growing private companies in America with a three-year growth rate of 58%. Innovest was a seven-employee company at the beginning of 2018 that generated $58,000 in revenue, to ending 2018 on a $40 million annual revenue run-rate with a conglomerate of operating businesses and 75 employees.
About Entrust Energy
Entrust Energy is a privately-owned retail electricity and gas provider dedicated to serving homeowners and businesses across America. Entrust Energy is a company comprised of talented, entrepreneurial, and intelligent individuals who are passionate about the energy industry. The mission of Entrust Energy is to change how business is done with a unique customer-centric approach that is based on transparency, honesty and integrity. The company offers electricity and gas service in Texas, Illinois, Maryland, California, New Jersey, New York, Ohio and Pennsylvania. The company is #47 in the 2015 Inc. 5000 list of Fastest Growing Private Companies in America.
Entrust Energy is #4 in the Inc. list of Top Energy Companies, #5 in Top Texas Companies, and #1 in Houston Metro Area Companies.
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) has operations in Industrials (commercial and industrial products and services, energy, construction, and building materials ) and diversified holdings in biotechnology. The primary growth strategy of Innovest Global Inc is to acquire existing companies in a select few industries and attract new customers in cost effective ways. Currently, Innovest Global Inc has a Commercial & Industrial Division, a Biotechnology & Health Services Division, and a Construction & Building Materials Division.
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