In the Marketplace

State Bank of Long Island, NY, has signed an agreement with Main Street Bank of Kingwood, TX, for the sale of substantially all of the assets of State Bank's leasing subsidiary, Studebaker-Worthington Leasing Corp. Studebaker will operate as a division of Main Street Bank and continue its national equipment leasing business from its present office in Jericho, NY. Studebaker's senior management, including Kenneth Paston, its Chief Executive Officer, will continue with the company. The sale is scheduled to close in the second quarter of 2008. State Bancorp, Inc. is the holding company for State Bank of Long Island, the largest independent commercial bank headquartered on Long Island.

Aquiline Capital Partners of New York announced that Laird M. Boulden has joined the firm as a senior adviser. Boulden, a long-time member of the commercial finance industry, served most recently as president and Chief Executive Officer of RBS Asset Finance, a subsidiary of Citizens Financial Group. Prior to joining RBS Asset Finance, Boulden was founder and president of RBS Lombard, where he was responsible for the consolidation and integration of the U.S.-based RBS equipment finance businesses within Citizens Financial Group. At Aquiline, a private equity firm investing in financial services, Boulden will be responsible assisting in the evaluation of future opportunities in the commercial and specialty finance sectors.

RVI Group of Stamford, CT, announced that John O'Bryan has been promoted to senior vice president, commercial equipment. He will be leading the company's efforts insuring general aviation and commercial aircraft residual values. O'Bryan joined RVI in 2001 after four years at CIT Group as vice president structured finance. Prior to CIT, O'Bryan was with Deutsche Bank in Dublin, Ireland and Sydney, Australia.

Balboa Capital Corporation of Irvine, CA, has promoted Phil Silva to president. Immediately before Silva joined Balboa in April 2007, he ran his own management-consulting firm. Prior to that, Silva was the general manager for the Healthcare and Franchise segments at American Express Business Finance up until and through its purchase by Key Equipment Finance. Patrick Byrne, the founder and current president of Balboa, will continue as the chief executive officer and chairman. The company is the largest privately-held equipment finance company in the US.

NationaLease, of Oakbrook Terrace, IL, has announced that through its relationship with ATS Investment Holdings Inc., it has made its first investment by taking an equity position in Stitzel Leasing LLC of York, PA, which will now operate under the name of York NationaLease. In April, NationaLease established a private equity fund to enable an ownership transition of existing NationaLease member companies and provide an opportunity for new ownership to gain viable entry as an independent lessor in the truck leasing and rental industry. The goal of the private equity fund is to preserve the legacy of the independent truck lessor, protect jobs, give customers clear alternatives, and continue to strengthen NationaLease, an already 700-plus location strong organization representing more than 150,000 vehicles. The investment by ATS enabled Stitzel Leasing to acquire the former York NationaLease. Currently, Stitzel operates more than 100 vehicles from a single York, PA, location. The firm is in the process of opening a location in Harrisburg, PA, and plans to add additional York NationaLease locations in the future.

General Finance Corporation of Pasadena, CA, and Royal Wolf Trading Australia Pty Ltd, an 86.2%-owned subsidiary that is the largest marketer and lessor of storage containers in Australia, have announced the acquisition of RWNZ Acquisition Co. Limited and its wholly owned subsidiary Royal Wolf Trading New Zealand, believed to be the largest marketer and lessor of storage containers in New Zealand, for approximately USD $18.6 million. Through this acquisition Royal Wolf acquired more than 5,800 storage containers, of which approximately 5,000 storage containers are in the leasing fleet at approximate 86% utilization rates, that are primarily delivered through five branches or customer service centers. The transaction will be primarily financed by bank financing under the existing Australian and New Zealand Banking Group Limited credit facilities to Royal Wolf.

State Bank of Long Island, NY, has signed an agreement with Main Street Bank of Kingwood, TX, for the sale of substantially all of the assets of State Bank's leasing subsidiary, Studebaker-Worthington Leasing Corp. Studebaker will operate as a division of Main Street Bank and continue its national equipment leasing business from its present office in Jericho, NY. Studebaker's senior management, including Kenneth Paston, its Chief Executive Officer, will continue with the company. The sale is scheduled to close in the second quarter of 2008. State Bancorp, Inc. is the holding company for State Bank of Long Island, the largest independent commercial bank headquartered on Long Island.

Aquiline Capital Partners of New York announced that Laird M. Boulden has joined the firm as a senior adviser. Boulden, a long-time member of the commercial finance industry, served most recently as president and Chief Executive Officer of RBS Asset Finance, a subsidiary of Citizens Financial Group. Prior to joining RBS Asset Finance, Boulden was founder and president of RBS Lombard, where he was responsible for the consolidation and integration of the U.S.-based RBS equipment finance businesses within Citizens Financial Group. At Aquiline, a private equity firm investing in financial services, Boulden will be responsible assisting in the evaluation of future opportunities in the commercial and specialty finance sectors.

RVI Group of Stamford, CT, announced that John O'Bryan has been promoted to senior vice president, commercial equipment. He will be leading the company's efforts insuring general aviation and commercial aircraft residual values. O'Bryan joined RVI in 2001 after four years at CIT Group as vice president structured finance. Prior to CIT, O'Bryan was with Deutsche Bank in Dublin, Ireland and Sydney, Australia.

Balboa Capital Corporation of Irvine, CA, has promoted Phil Silva to president. Immediately before Silva joined Balboa in April 2007, he ran his own management-consulting firm. Prior to that, Silva was the general manager for the Healthcare and Franchise segments at American Express Business Finance up until and through its purchase by Key Equipment Finance. Patrick Byrne, the founder and current president of Balboa, will continue as the chief executive officer and chairman. The company is the largest privately-held equipment finance company in the US.

NationaLease, of Oakbrook Terrace, IL, has announced that through its relationship with ATS Investment Holdings Inc., it has made its first investment by taking an equity position in Stitzel Leasing LLC of York, PA, which will now operate under the name of York NationaLease. In April, NationaLease established a private equity fund to enable an ownership transition of existing NationaLease member companies and provide an opportunity for new ownership to gain viable entry as an independent lessor in the truck leasing and rental industry. The goal of the private equity fund is to preserve the legacy of the independent truck lessor, protect jobs, give customers clear alternatives, and continue to strengthen NationaLease, an already 700-plus location strong organization representing more than 150,000 vehicles. The investment by ATS enabled Stitzel Leasing to acquire the former York NationaLease. Currently, Stitzel operates more than 100 vehicles from a single York, PA, location. The firm is in the process of opening a location in Harrisburg, PA, and plans to add additional York NationaLease locations in the future.

General Finance Corporation of Pasadena, CA, and Royal Wolf Trading Australia Pty Ltd, an 86.2%-owned subsidiary that is the largest marketer and lessor of storage containers in Australia, have announced the acquisition of RWNZ Acquisition Co. Limited and its wholly owned subsidiary Royal Wolf Trading New Zealand, believed to be the largest marketer and lessor of storage containers in New Zealand, for approximately USD $18.6 million. Through this acquisition Royal Wolf acquired more than 5,800 storage containers, of which approximately 5,000 storage containers are in the leasing fleet at approximate 86% utilization rates, that are primarily delivered through five branches or customer service centers. The transaction will be primarily financed by bank financing under the existing Australian and New Zealand Banking Group Limited credit facilities to Royal Wolf.