Quest Management, Inc. (OTC Pink: QSMG) is engaged as an acquisition & development company. Shares of the multi-sector business are diving 23.91%, through afternoon trading on Wednesday, April 19, 2017. Over the past month, Quest Management, Inc. has seen average daily volume of 43,452 shares. However, volume of 119,907 shares or dollar volume of $83,934, has already exchanged hands on Wednesday.
Shares of Quest Management, Inc. are under pressure today, after the company announced it is negotiating with Chagrin Safety Supply for the company’s holding company operations. Chagrin Safety Supply has a 29-year history and is a diversified durable goods provider. There is no official agreement in place yet, but the company hopes the negotiations will be fruitful. Here is the press release detailing of the acquisition negotiations:
Quest Management, Inc. Press Release:
MADONA, Latvia, April 19, 2017 (GLOBE NEWSWIRE) — Quest Management Inc. (OTC-PINK:QSMG) announces that as part of its control acquisition and new business initiatives, it is negotiating to acquire Chagrin Safety Supply for its consolidated holding company operations.
The acquisition of Chagrin Safety Supply will serve as a beachhead entry into the business-to-business durable goods market, as part of its diversified strategy. Chagrin has an over 29 year history, including having been awarded the master contract post-911 from the US Postal Service to supply nitrile safety gloves to the nations 44,000 post offices. As part of the acquisition, Bill Oler will continue to serve as its President, and additionally as part of the Quest management team.
Bill Oler has more than 44 years’ experience in the Healthcare and Safety fields. Prior to founding Chagrin Safety Supply in January 1988, Bill was Vice President, Operations, University Hospitals of Cleveland, the major teaching affiliate of Case Western Reserve University. In 2013, Bill was elected to the Board of Directors of the Solon Chamber of Commerce. Four months later, he founded the Western Reserve Safety Council, a not-for-profit partnership between the Solon Chamber of Commerce and the Ohio Bureau of Workers’ Compensation, and has since served as its Steering Committee Chair to this day.
Bill earned his undergraduate degree from Villanova University (BA) and his Masters’ Degree in Hospital and HealthCare Administration (MHA) from the University of Minnesota. Bill is married, has 2 daughters, one son and a grandson. He has lived in the Chagrin Valley area of Ohio for 33 years, served 2 terms as President, Tanglewood Lake Homeowners Association and is a proud 12 year member of the Geauga Blue Coats, a non-profit organization whose mission is to fund college education for the children of fallen first responders.
Safe Harbor Statement: This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.