Quest Solution

Introduction

Quest Solution (OTCQB: QUES) is a publicly traded national mobility systems integrator with a focus on design, delivery, deployment, and support of fully integrated mobile solutions. The company offers end-to-end solutions that include hardware, software, communications, as well as full lifecycle management services to manufacturers, retailers, and healthcare companies.

Situation

Quest Solution was intending to merge with a Canadian competitor, a transaction that stockholders were anticipating. However, their existing financing arrangement contained various covenants that were deterring the business from completing the transaction. In order to complete the merger, Quest needed a financing solution that would offer more flexibility, as well as more availability in order to pay out existing shareholders and integrate the two businesses. To this end, Quest began their search for a new lender with experience in their industry, an understanding of the complexity of their product lines, and ultimately with the capability to execute on a time-sensitive transaction.

Solution

With experience in the supply-chain technology industry, FGI possessed expertise in the space and the complexities that accompanied Quest’s business. After gaining an in-depth understanding of Quest’s needs and their new company structure, FGI was able to provide the company with the financing necessary for a successful transaction. FGI presented Quest with a $15,000,000 receivable finance facility, with minimal covenants, which ultimately tripled Quest’s borrowing capacity.