Private financing group acquires manufacturer of Sun Capsule Indoor Tanning Booths and its finance program, the “Flex Lease Plan”.
North Andover, MA: The Sun Capsule brand has a new owner. Effective today, Millennium Equity Finance Corporation assumed ownership and operation of the indoor tanning industry’s oldest domestic manufacturer. Since 1979 Sun Capsule has pioneered the growth of the Indoor Sun Tanning Industry with the most reliable Tanning Booths in the market.
Millennium will continue to manufacture the Sun Capsule brand while expanding its portfolio of low cost, hassle free Flex financing throughout the industry for both new and used equipment. Millenniums’ CEO, Richard Kosinski will lead the new company and has announced that industry veteran Wayne Chevie will join him as Executive Vice President at Millennium.
Sun Capsule will continue its long-standing relationship with Cosmedico Light, Inc both as its OEM lamp partner as well as developing new strategic opportunities in the lighting industry.
“Despite market contraction over the past several years, our research shows a tremendous demand for an easy, low cost financing program such as the Flex Lease Plan to serve the needs of tanning salon operators and chains “, said Mr. Kosinski. Since 1997 Sun Capsule has financed over 4,500 of its tanning booths using its innovative pay as you go, usage based leasing program.
“The Flex Leasing program is hands down the best financing solution in the industry. Nowhere else can a salon operator finance his business based on how many customers use the equipment” according to Mr. Chevie.
Sun Capsule will continue to market its newest model the 7-minute Vitesse along with several other models as well as new designs which the company will develop.
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