Marlin Completes Acquisition by Funds Managed by Affiliates of HPS Investment Partners LLC
20 Enero 2022 - 7:40AM
Marlin Business Services Corp., a nationwide
provider of capital solutions to small businesses (“Marlin” or the
“Company”), announced today the completion of its acquisition by
funds managed by affiliates of HPS Investment Partners LLC (“HPS”)
effective January 20, 2022, for $23.50 per share in an all-cash
transaction.
With the completion of this transaction, Marlin
becomes part of the Global Leasing Platforms (the “Platforms”)
managed by affiliates of HPS, which include PEAC UK and PEAC Europe
and collectively operate in 11 countries. The Platforms currently
have balance sheet lease assets of €4.5 billion and annual
originations of over €2.4 billion.
Jeffrey A. Hilzinger, Marlin’s President and
CEO, said, “We are pleased to have successfully concluded the
transaction with HPS which has delivered significant value to
Marlin’s shareholders. We’re excited to be part of the Global
Leasing Platforms which will create new opportunities for us to
better serve our equipment dealers & manufacturer partners and
expand into new markets. Our focus on providing fast & flexible
financing solutions to small businesses has been a key driver of
Marlin’s success and we will continue to improve & innovate on
the experience we provide to customers & partners.”
Bill Stephenson, CEO of HPS’ Global Leasing
Platforms, commented, “By combining our global strategy with
experienced local teams we are creating a full service
commercial finance organization to support our equipment
dealers and customers. Marlin is an exciting addition to
our platforms and we look forward to building on its
success.”
In connection with the completion of the
acquisition, Marlin has become a wholly-owned subsidiary of funds
managed by affiliates of HPS and the common stock of Marlin will no
longer be listed on the Nasdaq Global Select Market.
About Marlin
Marlin is a nationwide provider of capital
solutions to small businesses with a mission of helping small
businesses fulfill their American dream. Our products and services
are offered directly to small businesses and through financing
programs with independent equipment dealers and other
intermediaries. For more information about Marlin, visit
marlincapitalsolutions.com or call toll free at (888) 479-9111.
Cautionary Note Regarding
Forward-Looking Statements
This release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such forward-looking statements represent only
the Company’s current beliefs regarding future events and are not
guarantees of performance or results. All forward-looking
statements (including statements regarding expectations of future
financial and operating results) involve risks, uncertainties and
contingencies, many of which are beyond our control, which may
cause actual results, performance or achievements to differ
materially from anticipated results, performance or achievements.
All statements contained in this release that are not clearly
historical in nature are forward-looking, and the words
“anticipate,” “believe,” “expect,” “estimate,” “plan,” “may,”
“could,” “intend” and similar expressions are generally intended to
identify forward-looking statements. Economic, business, funding,
market, competitive, legal and/or regulatory factors, among others
(including but not limited to the impact of the COVID-19 pandemic),
affecting our business are examples of factors that could cause
actual results to differ materially from those described in the
forward-looking statements. More detailed information about these
factors is contained under the headings “Forward-Looking
Statements” and “Risk Factors” in our periodic reports filed with
the United States Securities and Exchange Commission, including the
most recent Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q, which are also available in the “Investors” section of
our website. We are under no obligation to (and expressly disclaim
any such obligation to) update or alter our forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. Investors are cautioned
not to place undue reliance on such forward-looking statements.
Investor Contacts:
Mike Bogansky, Senior Vice President & Chief Financial
Officer856-505-4108
Marlin Business Services (NASDAQ:MRLN)
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