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Marlin Completes Acquisition by Funds Managed by Affiliates of HPS Investment Partners

January 21, 2022, 07:22 AM
Filed Under: Mergers & Acquisitions

Marlin Business Services Corp., a nationwide provider of capital solutions to small businesses, announced the completion of its acquisition by funds managed by affiliates of HPS Investment Partners LLC (HPS) effective Jan. 20, 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 $5.1 billion and annual originations of over $2.7 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 and manufacturer partners and expand into new markets. Our focus on providing fast and flexible financing solutions to small businesses has been a key driver of Marlin’s success and we will continue to improve and innovate on the experience we provide to customers and partners.”

Bill Stephenson, CEO of HPS’ Global Leasing Platforms, said, “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.

The proposed acquisition was announced on April 19, 2021.

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