Dateline: Fri, 16 Jun 2006
freeNewsArticles Story Summary: “NEW YORK, NY – June 16 (SEND2PRESS NEWSWIRE) — The Advantage Funding group of companies announced today the sale of 80 percent of its stock to Marubeni Motor Holdings, Inc., which is 80% owned by Marubeni America Corporation and 20% owned by Marubeni Auto & Construction Machinery America, Inc.”
A R T I C L E:
NEW YORK, NY – June 16 (SEND2PRESS NEWSWIRE) — The Advantage Funding group of companies announced today the sale of 80 percent of its stock to Marubeni Motor Holdings, Inc., which is 80% owned by Marubeni America Corporation and 20% owned by Marubeni Auto & Construction Machinery America, 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
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• Story Title: The Advantage Funding Group of Companies Announces Sale of 80 percent of its Stock to Marubeni Motor Holdings, Inc.
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