Commentary "INNOVATE Corp. is a platform for the new economy. This is evident in the outstanding performance at DBM - our Infrastructure portfolio company. Following its acquisition of Banker Steel, DBM recorded a record backlog of $1.6 billion at the end of the quarter. In fact, taking into account contracts awarded but not signed, DBM's backlog would have been approximately $1.9 billion," said Avie Glazer, Chairman of HC2. "This outstanding performance was repeated in Spectrum, which had a record Adjusted EBITDA of $2.7 million."