Quest Solution Secures $8 Million Line of Credit with Wells Fargo Bank
Long term partnership creates flexibility for growth strategy.
HENDERSON, Nev., Jan 07, 2015 (GLOBE NEWSWIRE via COMTEX) --
via PRWEB - Quest Solution, Inc, "The Company" QUES, +6.67% is pleased to announce that it has secured a revolving credit facility from Wells Fargo Bank in the maximum principal amount of $8,000,000. Specific details related to the transaction will be filed in a Form 8-K with the Securities and Exchange Commission.
"We are pleased to confirm that Wells Fargo, the 4th largest bank in the United States, as our lending partner as we execute the expansion strategy of our business model in core verticals and new markets," stated Jason Griffith, CEO, Quest Solution, Inc. "Wells Fargo completed a significant due diligence process on the Company and agreed to provide up to $8,000,000 in a revolving line of credit with a three-year commitment to the relationship."
"We are excited about our new relationship with Quest Solution and BCS and pleased to be able to provide pivotal financing for their business growth," stated Steve Ogus, Senior Vice President, Loan Originations, Wells Fargo Capital Finance. "The entire company and its strong management team were helpful in making our due diligence process seamless and we look forward to supporting the company in their future business endeavors."
Griffith added, "We believe Wells Fargo's support will provide flexibility for growth and further enhance our ability to deliver value to our shareholders."
For a Quest Solution Investor Presentation please visit: http://questsolution.com/investors.html
For more information http://www.QuestSolution.com and http://www.BCSSolutions.com
About Quest Solution, Inc.:
Quest Solution, Inc. is a leading provider in the technology, software, and mobile data collection systems business. In November 2014, the Company announced that Bar Code Specialties, Inc. (BCS) joined with Quest Solution, Inc. The Company intends on continuing to acquire existing companies with revenues and positive cash flow.
Quest Solution, Inc. serves as a national mobility systems integrator with a focus on design, delivery, deployment and support of fully integrated mobile solutions. The Company takes a consultative approach by offering end to end solutions that include hardware, software, communications and full lifecycle management services. The highly tenured team of professionals simplifies the integration process and delivers proven problem solving solutions backed by numerous customer references.
The recent BCS acquisition is in addition to the recently announced creation of a wholly-owned division focused on commercializing Intellectual Property, Patents and Distribution of industry-specific technologies in an array of new verticals. The new division will focus on the acquisition of existing intangibles, which we anticipate will provide immediate value to the company.
Long term partnership creates flexibility for growth strategy.
HENDERSON, Nev., Jan 07, 2015 (GLOBE NEWSWIRE via COMTEX) --
via PRWEB - Quest Solution, Inc, "The Company" QUES, +6.67% is pleased to announce that it has secured a revolving credit facility from Wells Fargo Bank in the maximum principal amount of $8,000,000. Specific details related to the transaction will be filed in a Form 8-K with the Securities and Exchange Commission.
"We are pleased to confirm that Wells Fargo, the 4th largest bank in the United States, as our lending partner as we execute the expansion strategy of our business model in core verticals and new markets," stated Jason Griffith, CEO, Quest Solution, Inc. "Wells Fargo completed a significant due diligence process on the Company and agreed to provide up to $8,000,000 in a revolving line of credit with a three-year commitment to the relationship."
"We are excited about our new relationship with Quest Solution and BCS and pleased to be able to provide pivotal financing for their business growth," stated Steve Ogus, Senior Vice President, Loan Originations, Wells Fargo Capital Finance. "The entire company and its strong management team were helpful in making our due diligence process seamless and we look forward to supporting the company in their future business endeavors."
Griffith added, "We believe Wells Fargo's support will provide flexibility for growth and further enhance our ability to deliver value to our shareholders."
For a Quest Solution Investor Presentation please visit: http://questsolution.com/investors.html
For more information http://www.QuestSolution.com and http://www.BCSSolutions.com
About Quest Solution, Inc.:
Quest Solution, Inc. is a leading provider in the technology, software, and mobile data collection systems business. In November 2014, the Company announced that Bar Code Specialties, Inc. (BCS) joined with Quest Solution, Inc. The Company intends on continuing to acquire existing companies with revenues and positive cash flow.
Quest Solution, Inc. serves as a national mobility systems integrator with a focus on design, delivery, deployment and support of fully integrated mobile solutions. The Company takes a consultative approach by offering end to end solutions that include hardware, software, communications and full lifecycle management services. The highly tenured team of professionals simplifies the integration process and delivers proven problem solving solutions backed by numerous customer references.
The recent BCS acquisition is in addition to the recently announced creation of a wholly-owned division focused on commercializing Intellectual Property, Patents and Distribution of industry-specific technologies in an array of new verticals. The new division will focus on the acquisition of existing intangibles, which we anticipate will provide immediate value to the company.
