Macquarie Group Limited announces that it has entered into an agreement to acquire Advantage Funding Management Co., Inc (Advantage Funding) from Marubeni America Corporation. Under the agreement, Advantage Funding will become a fully owned subsidiary of Macquarie鈥檚 Corporate and Asset Finance group (CAF). Advantage Funding is a leading provider of transportation financing and leasing solutions servicing commercial and vehicle operators, dealers and manufacturers. Their solutions allow for the acquisition of tow trucks, ambulances, para-transit vehicles, coaches, limousines and vocational trucks across municipal and industrial operations. CAF Group Head Garry Farrell said: 鈥淭his transaction complements our existing leasing portfolio with a commercial vehicle finance platform in the US. Advantage Funding has a demonstrated track record of client satisfaction and strong operational performance. The acquisition builds on the strong growth of CAF鈥檚 global leasing business.鈥�
Advantage Funding鈥檚 Chief Executive Officer, Al Damiani, said: 鈥淲e look forward to working with Macquarie to provide our customers with a broader range of transportation financing solutions and product capacity. Macquarie鈥檚 complementary leasing and financing expertise will help us expand our service in US markets and position us to further support our clients鈥� continued growth.鈥� The transaction is expected to close in mid 2015, subject to customary closing conditions.
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