Wells Fargo & Co. has struck a deal to acquire a finance company that specializes in lending to technology resellers.
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Wells has been a minority investor in the privately held Castle Pines Capital LLC since 2007 and said Thursday that it intends to buy the remaining equity stake. It did not disclose a deal price.
John Schmidt, managing partner and co-founder of Denver-based Castle Pines, will continue to run the business, which would operate as part of Wells Fargo Capital Finance. The sale is expected to close this summer.
