Macquarie Group announced it entered into an agreement to acquire Advantage Funding Management from Marubeni America. Under the agreement, Advantage Funding will become a fully owned subsidiary of Macquarie’s Corporate and Asset Finance group (CAF).

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

CAF Group Head Garry Farrell said, “This 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’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 US markets and position us to further support our clients’ continued growth.”

Advantage Funding is a 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.