Fort Myers, FL (September 2nd, 2011) – Castleton Capital President and CEO, Kevin Ruane, today announced that his company has acquired Quest Resources from Grandview Financial.
Quest Resources, originally founded by Kevin Ruane in 1987, is well known as the innovator of new approaches to equipment funding in the beauty industry. In 2004 Grandview Financial acquired Quest, but recently decided to exit this sector. This decision enabled Ruane, who had remained active in equipment funding especially in the tanning industry, to merge Quest Resources with his newer enterprise.
“I am delighted to be back in the Salon and Spa business, it has been my passion for more than 20 years and I have many friends and colleagues still very involved in the industry. I am also pleased to be able to bring my former partner, Jeff Grissler, as well as my operations team back together again” said Ruane.
Ruane will be President and CEO of the new Quest Group of companies: consisting of Castleton Capital Corporation Corp., Quest Resources USA and Castleton Capital Financial Solutions and its Divisions – Salon & Spa Division and Tanning Division. The Divisions offer a variety of financing products to meet the needs of qualified applicants: both start-ups and existing businesses seeking to remodel or expand their salons.
Quest Resources has been directly involved in the salon & spa and tanning industires for over 20 years, financing more than $450 million to more than 15,000 businesses. Their significant and creative funding capacity, a proven track record and an experienced management team has helped them become the preferred funding source of major industry manufacturers, distributors and vendors such as Takara Belmont, Salon Centric, Sally’s Holdings, L’Oreal and Redken.
Ruane continued: “I recognize and understand the challenges of today’s lending environment. To this end, we have expanded our Florida office and created satellite offices in North Carolina, Minnesota, New Jersey and New York. Our offices are equipped with state of the art technology and knowledgeable professionals with over 100 years of lending experience. We are well equipped to serve our customers to the highest standards expected in the industry.”
Through its parent company Castleton Capital, Quest Resources has recently expanded its credit facilities and capital assets enabling its divisions to offer enhanced credit latitude and funding to a wide variety of businesses.