In the Marketplace

BMO Harris Equipment Finance Company of Cleveland has hired Joe DiLallo to lead its corporate aviation finance and leasing business. He will be based in Cleveland, and will have both national and international business development responsibilities. DiLallo most recently served as vice president in the Corporate Aviation Finance (“CAF”) unit of Key Equipment Finance, where he was responsible for growth of the CAF Division through the western United States and select international markets.

MB Financial Bank, N.A. of Chicago, the wholly owned subsidiary of MB Financial, Inc., announced that it has acquired Celtic Leasing Corp. (“Celtic”), a privately held, mid-ticket equipment leasing company. Headquartered in Irvine, CA, Celtic provides leasing services to middle-market companies. It specializes in solutions for the health care, legal, technology and manufacturing industries. In recent years, Celtic's lease originations have ranged from $75 to $100 million on an annual basis. Celtic's CEO, Todd Meyer, and his management team will continue to lead the company. Celtic will operate as a wholly owned subsidiary of MB Financial Bank.

Bank of Ann Arbor has acquired Ervin Leasing Company, a privately held national equipment leasing and finance company headquartered in Ann Arbor, MI. Ervin Leasing was founded in 1978 as a subsidiary of parent company Ervin Industries.

Following the economic downturn of 2008 and 2009, sales have been on the rise since 2010. Despite this, Ervin Leasing's funding sources, previously providing lines of credit in the range of $100 million, remained on the sidelines, leading to the decision to seek out a new owner who could provide funding for growth. Bank of Ann Arbor was chosen after seeking proposals from banks and private equity firms. Ervin Leasing will remain at its current Ann Arbor office location.

SunTrust Banks Inc. of Atlanta has hired Jim Sadowski as vice president of healthcare for subsidiary, SunTrust Equipment Finance & Leasing. Sadowski will be based out of Towson, MD, and is responsible for equipment finance activity throughout the health care industry. He previously held sales leadership positions with M&I Bank Equipment Finance, GE Healthcare Financial Services and Philips Medical Capital/DLL.

BMO Harris Equipment Finance Company of Cleveland has hired Joe DiLallo to lead its corporate aviation finance and leasing business. He will be based in Cleveland, and will have both national and international business development responsibilities. DiLallo most recently served as vice president in the Corporate Aviation Finance (“CAF”) unit of Key Equipment Finance, where he was responsible for growth of the CAF Division through the western United States and select international markets.

MB Financial Bank, N.A. of Chicago, the wholly owned subsidiary of MB Financial, Inc., announced that it has acquired Celtic Leasing Corp. (“Celtic”), a privately held, mid-ticket equipment leasing company. Headquartered in Irvine, CA, Celtic provides leasing services to middle-market companies. It specializes in solutions for the health care, legal, technology and manufacturing industries. In recent years, Celtic's lease originations have ranged from $75 to $100 million on an annual basis. Celtic's CEO, Todd Meyer, and his management team will continue to lead the company. Celtic will operate as a wholly owned subsidiary of MB Financial Bank.

Bank of Ann Arbor has acquired Ervin Leasing Company, a privately held national equipment leasing and finance company headquartered in Ann Arbor, MI. Ervin Leasing was founded in 1978 as a subsidiary of parent company Ervin Industries.

Following the economic downturn of 2008 and 2009, sales have been on the rise since 2010. Despite this, Ervin Leasing's funding sources, previously providing lines of credit in the range of $100 million, remained on the sidelines, leading to the decision to seek out a new owner who could provide funding for growth. Bank of Ann Arbor was chosen after seeking proposals from banks and private equity firms. Ervin Leasing will remain at its current Ann Arbor office location.

SunTrust Banks Inc. of Atlanta has hired Jim Sadowski as vice president of healthcare for subsidiary, SunTrust Equipment Finance & Leasing. Sadowski will be based out of Towson, MD, and is responsible for equipment finance activity throughout the health care industry. He previously held sales leadership positions with M&I Bank Equipment Finance, GE Healthcare Financial Services and Philips Medical Capital/DLL.