Retail Supplier Launches Joint Venture With Investment Company Focused On Improving Customer Acquisition At Acquired Companies
February 25, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Innovest Global, Inc., which describes itself as, "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," Innovest said
"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," Innovest said
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 said
"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," Innovest said
Innovest Global, Inc. 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," Innovest said
At its launch in 2017, Innovest stated, "Our primary approach is efficient customer acquisition technologies being applied to new and existing efforts," emphasizing a, "strategy of adding value to business efforts in a continuously evolving technological environment."