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Press Release:
The Advantage Funding Group of Companies Announces Sale of 80 percent of its Stock to Marubeni Motor Holdings, Inc.
Advantage Funding, one of the largest independent vehicle and equipment leasing and finance companies to the ground transportation industry, originates and services a $100 million loan and lease portfolio specializing in the limousine, funeral, commercial coach and paratransit industries. In announcing the sale, Edward P. Kaye, President of Advantage Funding, said, "The acquisition of Advantage by Marubeni gives us a world class partner to grow our core business and better serve our customers and vendors." Eric C. Coolbaugh, Vice President of Advantage, added, "Marubeni's willingness to keep our management team in place and bring business to us is a very unique opportunity for a company such as ours." Tsutomu Yamamoto, COO of Marubeni America Corp., and the[es1] President of Marubeni Motor Holdings, stated, "Marubeni sought to acquire an industry leader that could support our auto related and finance businesses, and we are fortunate to have been able to acquire Advantage Funding." "The synergy between our business and Marubeni will afford us structured growth and opportunities that would not otherwise be available to us," Michael Kaplan, Advantage Funding's Secretary Treasurer, stated. Marubeni Corporation, the world's 15th largest company according to Forbes International 500 in 2003 with total volume of trading transactions of $74 billion, was founded in 1858 and is headquartered in Tokyo, Japan, with more than 5,200 employees in 74 countries. More information: www.advantagefunding.us Advantage Funding, 37-39 Ninth Street, Long Island City, New York 11101
NEWS SOURCE: Advantage Funding Group
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REFERENCES: The Advantage Funding Group of Companies Announces Sale of 80 percent of its Stock to Marubeni Motor Holdings, Inc., Advantage Funding, Long Island City, New York, Marubeni America Corporation, Edward P. Kaye, independent vehicle and equipment leasing and finance companies, ground transportation industry, Eric C. Coolbaugh, Tsutomu Yamamoto, Versacom Inc., Construction Machinery, press release, Jun 16, 2006. |
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