Lancer Insurance
Tuesday, March 05, 2024

New York — Macquarie Group Limited recently announced that it will acquire Advantage Funding Management Co. (Advantage Funding) from Marubeni America Corporation. Under the agreement, Advantage Funding will become a fully owned subsidiary of Macquarie’s 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, paratransit vehicles, coaches, limousines, and vocational trucks across municipal and industrial operations. Advantage Funding is based in Lake Success, N.Y., and was founded in 1997.

CAF Group Head Garry Farrell said: “This transaction complements our existing leasing portfolio with a commercial vehicle finance platform in the U.S. Advantage Funding has a demonstrated track record of client satisfaction and strong operational performance. The acquisition builds on the strong growth of CAF’s global leasing business.”

Advantage Funding’s CEO Al Damiani said: “We look forward to working with Macquarie to provide our customers with a broader range of transportation financing solutions and product capacity. Macquarie’s complementary leasing and financing expertise will help us expand our service in U.S. markets and position us to further support our clients’ continued growth.”

The transaction is expected to close in mid-2015, subject to customary closing conditions.

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