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In the Marketplace

BY ALM Staff
January 28, 2010

Arctic Cat Inc. of Minneapolis, MN, has entered into an agreement with GE Capital, Commercial Distribution Finance for it to become the exclusive provider of floorplan financing for Arctic Cat's U.S. dealers. The new multi-year financing program will replace Arctic Cat's current financing agreement with Textron Financial Corporation, which had previously announced its intent to exit the dealer floorplan business.

Michael Witt of West Des Moines, IA, has opened a law office focusing exclusively on equipment leasing and finance. Formerly managing counsel at Wells Fargo & Co. and Senior Vice President and General Counsel of Advanta Leasing Corp., Witt is licensed to practice law in Iowa, Pennsylvania and New Jersey and is able to provide document and general counseling services on a nationwide basis. His firm offers a variety of services, including, among others: conducting reviews or litigation audits on existing lease and loan document forms; drafting and updating document forms; negotiating and documenting individual transactions; negotiating and documenting vendor and other third-party programs; law and regulatory compliance audits and counseling; product development risk counseling.

CapitalSource Inc. of Chevy Chase, MD, has announced that Laird Boulden will be joining the company as President of Corporate Asset Finance. He will lead an asset finance group, which will enhance the company's historically strong asset-based lending business by focusing on equipment secured loans. Boulden comes to CapitalSource from Tygris Asset Finance, where he recently served as President. Previously Boulden held senior executive roles at the Citizens Banks/Royal Bank of Scotland and Heller Financial, where he founded/co-founded their respective equipment finance groups. Stephen J. O'Connor and Robert S. Wille will be among the group he is bringing to CapitalSource. Both have worked with Boulden for many years and share his extensive equipment-based lending experience.

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