On the Record · Innovate

Innovate acquisitions, on the record

The businesses Innovate bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

Business	Deal	When	Value
Triple Ring Word for word“On November 30, 2023, the Company sold 546,709 shares of its common stock of Triple Ring and 804,375 shares of its preferred stock of Triple Ring and exchanged 255,333 of Triple Ring common stock for 240,613 shares of Scaled Cell (valued at $0.9 million).” 10-K for 2023	divestiture	On November 30, 2023	—
HMN Word for word“On March 6, 2023, the Company, through New Saxon 2019 Limited (“New Saxon”), an indirect subsidiary of GMH, closed on the sale of its remaining 19% interest in HMN to subsidiaries and an affiliate of Hengtong Optic-Electric Co Ltd.” 10-K for 2023	divestiture	On March 6, 2023	—
Scaled Cell Word for word“On November 30, 2023, the Company sold 546,709 shares of its common stock of Triple Ring and 804,375 shares of its preferred stock of Triple Ring and exchanged 255,333 of Triple Ring common stock for 240,613 shares of Scaled Cell (valued at $0.9 million).” 10-K for 2023	acquisition	On November 30, 2023	$0.9 million
Clean Energy and Insurance segments Word for word“In the ordinary course of our business, we evaluate the potential disposition of assets and businesses that may no longer help us meet our objectives or that no longer fit with our broader strategy, such as the dispositions of our Clean Energy and Insurance segments in 2021 or the acquisition of Banker Steel by our Infrastructure segment in 2021.” 10-K for 2024	divestiture	2021	—
Banker Steel Word for word“In the ordinary course of our business, we evaluate the potential disposition of assets and businesses that may no longer help us meet our objectives or that no longer fit with our broader strategy, such as the dispositions of our Clean Energy and Insurance segments in 2021 or the acquisition of Banker Steel by our Infrastructure segment in 2021.” 10-K for 2024	acquisition	2021	—
GrayWolf Word for word“Additionally, as a result of our common stock offering in November 2015 and our purchase of GrayWolf in November 2018, we triggered additional ownership changes at GrayWolf, imposing additional limitations on the use of the acquired NOL carryforward amounts.” 10-K for 2024	acquisition	November 2018	—

As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year ended	Cash paid for acquisitions (net of cash acquired)	Goodwill from acquisitions
2016-12-31	$66.3 million	$36.9 million
2017-12-31	$57.8 million	$34.7 million
2018-12-31	—	$44.6 million
2021-12-31	—	$16.7 million

Deal filings since 2016

2026-10-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-10-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-10-05 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2026-09-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-09-02 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2026-08-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-08-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2026-06-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-08-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-07-17 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2025-05-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2023-01-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2022-08-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-10-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-07-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-07-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-07-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2021-05-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-05-27 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2021-03-29 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-03-15 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-02-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-01-19 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2020-12-31 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-09-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-07-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-05-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-01-30 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-01-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-12-04 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-11-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-10-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-08-09 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2018-08-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-05-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2018-02-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-11-30 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2017-11-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-11-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-10-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-09-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-06-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2017-05-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-12-20 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-10-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-08-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2016-07-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement

Read from Innovate’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-03-26. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.