Innovative Systems Limited (ISL) has signed a deal with Mayberry Investments to act as its financial advisory firm.
Following the acquisition of Innovative Systems Limited by Growth Tech Limited in 2022, this agreement will posture ISL for further growth.
A dominant player in the industry for 35 years, Innovative Systems plans to renovate its flagship store at Sovereign; open three new locations in Portmore, Ocho Rios, and Montego Bay, and a massive 5000-7000 sq ft superstore in Kingston to provide a more comfortable environment for its customers.
The agreement with Mayberry will allow ISL to find the best avenues to finance further expansion plans.
“The market has grown to trust us. So it is of utmost importance that we offer the best quality products at the most competitive prices. Innovation is our foundation. Therefore, we remain committed to meeting our customers’ needs. As such, we have major expansion plans on the table. This will enhance our services allowing us to better cater to our customers, said Garth Walker, a director at Innovative Systems.
According to Senior Vice President- Investment Banking for Mayberry, Dan Theoc, ” Mayberry is always on the lookout for fresh and cogent partnerships that will be valuable to consumers. We are eager to assist in strengthening the Jamaican tech community, through ISL.”
Innovative Systems expressed excitement at the partnership, which will see the company focus on expanding its services to facilitate business-to-business (B2B) services, and introducing new products and services to the existing ones.
“We are seeing a massive take-up of the B2B arm of the business, whose revenue has increased over 120 per cent since we (Growth Tech) have taken the reins of the business,” Walker added.
Meanwhile, Rachel Kirlew, Assistant VP – Investment Banking, said: “Mayberry is excited about bringing this deal to fruition. ISL outlined their plans and what they aim to accomplish, from which we were able to devise a strategic financial structure tailored specifically for those goals.”
