For More Information:
Debra Battaglia
dbattaglia@usxl.com
973-576-0526
US Express Leasing Acquires MBO Finance
New Origination Platform Expands Capabilities in Graphic Arts and Printing Marketplace
PARSIPPANY, NJ, OCTOBER 9, 2007 –
US Express Leasing, Inc. (USXL) announced today the acquisition of MBO Finance, a major provider of vendor financing to manufacturers, distributors and dealers in the graphic arts and printing industries. MBO Finance will become the core of USXL’s new graphic arts origination platform.
Leading the graphic arts business will be Teneyke Smith, formerly President and founder of MBO Finance. Smith has over 25 years of experience in providing equipment financing to the graphic arts and printing industries. He has driven significant growth through the delivery of creative sales aid financing programs with long established vendor partners.
“The acquisition of MBO Finance brings to USXL immediate access to a very attractive market while providing the MBO team with dedicated operational support, technology-enabled solutions, and a solid capital structure to help them reach their full potential,” says USXL CEO Jim McGrane.
According to Smith, “USXL’s unique brand of relationship-driven service and its focus on vendors make it an ideal fit for MBO Finance. We look forward to joining the USXL family and expect a rapid and seamless integration.”
Kropschot Financial Services initiated the transaction and served as the exclusive financial advisor to USXL.
About USXL
US Express
Leasing (USXL), headquartered in Parsippany,
N.J., is an independent
equipment finance company originating transactions through manufacturers, distributors and dealers in the commercial & industrial, healthcare, office products and technology industries.
For more
information, visit US Express Leasing on the Internet at www.usxl.com.
About MBO Finance
MBO Finance was founded by Teneyke Smith as the contract captive for Machinebau Oppenweiler Binder, one of the worlds leading manufacturers of paper folding and bindery equipment. Since its inception, MBO Finance has evolved into a provider of vendor finance programs for manufacturers and channel partners across many segments in the graphic arts and printing industries.
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