LOS ANGELES, May 23, 2008 – Marlin Equity Partners, LLC is pleased to announce it has acquired one of the world’s largest coupon redemption operations from International Outsourcing Services, LLC and formed a new company, ProLogic Redemption Solutions, Inc. Headquartered in Los Angeles, ProLogic has over 1,500 employees and serves nearly 20,000 of the nation’s leading retail stores and pharmacies, as well as 20 regional and state grocer associations. ProLogic is committed to bringing innovation and leadership to the coupon redemption industry.
Bill Atkinson, Technology Group President of Marlin, was named Chairman and CEO of ProLogic. Mr. Atkinson has more than 25 years of senior-level expertise with diverse technology-based companies including VeriFone, Dun & Bradstreet, Vertel Corporation, Titan Corporation, and Expertsoft. “We are committed to creating a coupon redemption company that provides transparency in the handling, processing and financial reporting of coupon redemptions,” stated Mr. Atkinson. “We have assembled a new leadership team of disciplined financial and grocery industry executives to complement an outstanding workforce.”
John McCurry, a seasoned grocery executive with more than 20 years of experience at Safeway and 15 years at Nash Finch, will serve as ProLogic’s Executive Vice President of Sales. Mr. McCurry was most recently President and CEO of Wythe Will Distributing, a specialty food distributing company.
“ProLogic is an exciting platform because of its unique ability to provide business services to retailers to better serve their customers and strengthen their relationship with consumer packaged goods companies,” stated George Kase, a Principal with Marlin Equity Partners. “Marlin is committed to providing the financial and strategic resources required to drive strong, sustainable revenue growth at ProLogic.” For more information, please visit www.prologicredemption.com.
About Marlin Equity Partners
Marlin Equity Partners is a Los Angeles, California-based private investment firm focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs in special situations. Marlin invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change where its capital base, industry relationships and extensive network of operational resources will significantly strengthen a company’s outlook and enhance value. Since 2005, Marlin Equity Partners has successfully completed 16 acquisitions. For more information, please visit www.marlinequity.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.com.