Tygris’ Small Ticket Leasing Operations to be Led by US Express Leasing, Inc.
James D. McGrane Named President of Small Ticket Leasing
New York, May 29, 2008 –
Monitor
magazine, a leading industry publication. USXL will play a key role in Tygris’ mandate of providing
liquidity and growth capital to middle market companies throughout North America.
“We welcome Jim McGrane and the entire USXL team to Tygris. USXL provides the foundation upon
which Tygris will develop a leading franchise position in small ticket equipment finance and leasing,”
said Frederick E. “Rick” Wolfert, Chief Executive Officer of Tygris. “We are excited by the opportunity
to leverage USXL’s experienced management team, state-of-the-art technology, scalable operations and
reputation for superior customer service as we grow our small ticket leasing presence.”
“We are thrilled to join Rick and his highly respected team as part of this well-positioned new company
and its significant access to capital,” said Mr. McGrane. “Tygris’ ‘back to basics’ strategy of service and
transparency is perfectly aligned with the way we do business. This is a very positive development for our
Tygris’ Small Ticket Leasing Operations to be Led by US Express Leasing, Inc.
James D. McGrane Named President of Small Ticket Leasing
New York, May 29, 2008 –
Monitor
magazine, a leading industry publication. USXL will play a key role in Tygris’ mandate of providing
liquidity and growth capital to middle market companies throughout North America.
“We welcome Jim McGrane and the entire USXL team to Tygris. USXL provides the foundation upon
which Tygris will develop a leading franchise position in small ticket equipment finance and leasing,”
said Frederick E. “Rick” Wolfert, Chief Executive Officer of Tygris. “We are excited by the opportunity
to leverage USXL’s experienced management team, state-of-the-art technology, scalable operations and
reputation for superior customer service as we grow our small ticket leasing presence.”
“We are thrilled to join Rick and his highly respected team as part of this well-positioned new company
and its significant access to capital,” said Mr. McGrane. “Tygris’ ‘back to basics’ strategy of service and
transparency is perfectly aligned with the way we do business. This is a very positive development for our
customers and employees.”
DLJ Merchant Banking Partners (“DLJMB”) will join other prominent investors in Tygris including
Aquiline Capital Partners LLC, New Mountain Capital, L.L.C., TPG Capital, Diamond Castle Holdings,
LLC and Hamilton Lane. “Founded in 2004 by DLJMB and Management, USXL has built a strong
industry reputation due to its client-orientated approach to underwriting and risk management, which are
also core operating principles of Tygris,” said Kamil Salame, a Managing Partner at DLJMB. “As a longterm
shareholder, we are excited by the growth opportunities available to the USXL team as a part of
Tygris.”
About Tygris Commercial Finance Group, Inc.
Tygris is a commercial finance company that provides liquidity and growth capital to middle market
companies throughout North America. Tygris has three commercial finance businesses: middle market
corporate finance, middle market equipment leasing and asset finance, and small ticket leasing. Tygris
has offices in Chicago, Stamford, CT and Parsippany, NJ. For more information please visit
About US Express Leasing, Inc.
US Express Leasing, headquartered in Parsippany, NJ, is an equipment finance company originating
transactions through manufacturers, distributors and dealers in the commercial & industrial, graphic arts,
healthcare, office equipment and technology industries. For more information please visit
About DLJ Merchant Banking Partners
DLJ Merchant Banking Partners (“DLJMB”) is a leading private equity investor that has a 22-year record
of investing in leveraged buyouts and related transactions across a broad range of industries. DLJMB,
with offices in New York, London and Los Angeles, is part of Credit Suisse’s Alternative Investments
business, one of the largest alternative asset managers in the world, with approximately $145 billion of
assets under management. Alternative Investments, which is part of the Asset Management business, is
comprised of a diverse family of funds, including private equity, leveraged buyouts, mezzanine, real
estate, secondary funds and fund of funds, as well as the businesses covering hedge funds (both direct and
fund of funds), leveraged loan and collateralized debt obligation investment programs, core real estate
funds, and quantitative investment and volatility management products.
Tygris Commercial Finance Group, Inc. (“Tygris”), a commercial finance
company, today announced the completion of the acquisition of US Express Leasing, Inc. (“USXL”), an
equipment finance company headquartered in Parsippany, NJ, from DLJ Merchant Banking Partners in an
all-stock transaction. James D. McGrane, Chief Executive Officer of USXL, joins Tygris’ management
team as President of Small Ticket Leasing. The company will continue to operate under the USXL brand.
USXL, one of the fastest-growing independent leasing companies in the U.S., provides innovative
financing solutions for equipment manufacturers, dealers and their customers nationwide. USXL brings to
Tygris significant underwriting and originations expertise in five segments: Commercial & Industrial,
Graphic Arts, Healthcare, Office Equipment, and Technology. Formed in 2004, the company ranks
among the 100 largest equipment finance and leasing companies in the U.S. according to