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An exit strategy for the. founder of Koster's Cash Loans has given a Salt Lake private equity firm the. opportunity to take a 70 percent share of the company. Bill Koster sold his interest in his company for $12 million to Ridgeview Capital last week. The remaining 30 percent of the company is owned by CEO Kim Koster (Bill's daughter) who heads the management team.
Ridgeview CEO Greg Larson says Bill Koster just decided that there were other things he wanted to do in life and that provided an opportunity for his company to take an interest and provide the older Koster with an exit strategy. Ridgeview said in a statement that it will act as an advisor to the management team to strengthen its Market position in Clark County. Larson says, though, "I have all the confidence in the world that they'll (the management team). do an outstanding job." He says Ridgeview has some expertise in information technology and that they could help improve the...