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Ascentium Capital, Ryko Solutions Partner on Car Wash Financing Program

May 06, 2016, 07:00 AM
Filed Under: Vendor Finance News

Ryko Solutions Inc. has formed a partnership with Ascentium Capital to offer affordable and customized finance options for Ryko’s managed car-wash products, services and technologies.

“Our goal is to ensure our clients are successful, and we want to assist every step of the way in building a profitable managed car-wash system,” said Jesse Wurth, CFO at Ryko Solutions. “We are leveraging Ascentium Capital’s expertise in the car-wash industry to drive this strategic initiative.”

Ascentium Capital’s finance solutions will provide Ryko’s clients with a way to acquire a complete car-wash solution from friction soft touch, touchless and minitunnel systems. Clients can also finance items such as remote monitoring systems, activation systems, water treatment, freight, installation, bay modification work and labor.

“Through Ascentium Capital’s consultative approach, finance structures will be tailored to each client’s cash flow,” said David Miller, senior vice president of marketing and new product development for Ryko Solutions. “We view this partnership as a way to assist with tactical objectives and enhance client satisfaction.”

The finance program will be available to Ryko Solution’s entire client network throughout the United States. Finance training, combined with a program rollout, will be part of the partnership launch.

“The specialized car-wash finance team at Ascentium is focused on providing solutions that enhance the profitability for our clients,” said Paul Hagner, vice president of commercial and industrial sales for Ascentium Capital.

Grimes, Iowa-based Ryko Solutions is one of the largest providers of car-wash solutions in North America, offering integrated, end-to-end vehicle care solutions including car-wash equipment, cleaning wash solutions and a direct source of customer service, maintenance and support.

As a direct lender, Kingwood, Texas-based Ascentium Capital specializes in providing business financing, leasing and loans for equipment manufacturers and distributors, as well as direct to businesses nationwide. The company is backed by private investment firms Vulcan Capital and LKCM Capital Group LLC.

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