The total purchase price of approximately $167 million includes a portfolio of small ticket leases to be acquired by LEAF and investment partnerships managed by Leaf. In addition, Leaf will retain the lease origination and management platform as well as the highly experienced small ticket leasing team including senior management, origination and operations personnel.
Under Leaf, Dolphin will continue its Missouri operations which are expected to originate in excess of $100 million of additional lease assets for Leaf investment vehicles in fiscal 2008.
Crit DeMent, chairman and CEO of Leaf, commented: We have continued to build our business and search out quality assets in this tremendously inefficient marketplace. Not only does this enhance our origination capabilities, but our investment limited partners will benefit from the quality of assets generated through this acquisition.
