LOS ANGELES, April 4, 2008 – Marlin Equity Partners, LLC is pleased to announce the acquisition of Chelford Group plc, a leading provider of specialist software solutions in the areas of supply chain management, ERP, manufacturing, warehousing and distribution, asset tracking and financials. Chelford will operate as a subsidiary of Solarsoft Business Systems, a Marlin portfolio company and provider of ERP solutions to a wide array of vertical markets. Chelford employs over 150 professionals and serves more than 250 customers from offices throughout Europe.
Commenting on the transaction, Shawn McMorran, Chief Executive Officer of Solarsoft Business Systems stated, “Chelford is an excellent fit with Solarsoft and our overall strategy to build significant value by acquiring complementary ERP software companies. With this acquisition, Solarsoft will expand the scale of its operations, the range of its product offering and vertical market expertise. Chelford’s employees and customers will benefit from being part of a much larger organization.”
“We believe that it is in the best interest of the Chelford Group to combine with an external partner to support our growth and potential in a consolidating market. A combination with Solarsoft will provide additional financial and operational resources to support the ongoing development of the Chelford Group for the benefit of customers, employees and suppliers,” said William Birkett, the Chairman of Chelford.
Shawn McMorran added, “Solarsoft has an established position in discrete manufacturing systems and Chelford’s strengths in fastmoving process industries are complementary to that. Bringing Chelford’s product businesses into Solarsoft will allow us to accelerate the alignment of our business increasingly along industry vertical lines. Chelford’s SAP Solutions division will operate independently as a distinct division within Solarsoft in order to preserve the value already created for the Chelford brand in this activity.”
About Marlin Equity Partners, LLC
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 our capital base, industry relationships and extensive network of operational resources will significantly strengthen a company’s outlook and enhance value. Since October 2005, Marlin Equity Partners has successfully completed 17 acquisitions. For more information, please visit www.marlinequity.com.
About Solarsoft Business Systems
Solarsoft provides modern enterprise software and IT services to manufacturers, distributors and wholesalers in North America, Europe and Asia. Over 1,500 companies rely on Solarsoft systems to bring clarity and efficiency to their business operations. Solarsoft has 25 years experience solving problems in accounting, finance, inventory control, warehouse management, e-commerce, logistics, manufacturing resource planning and management information. The business currently serves customers from 12 offices in North America, Europe and Asia. For more information, please visit www.solarsoft.com.
About Chelford Group
Chelford Group plc engages in the development, delivery and support of enterprise and supply chain software solutions. It provides solutions in supply chain, enterprise resources planning (ERP), manufacturing, warehousing and distribution and asset tracking. It offers its services to the food & beverage, chemicals & pharmaceuticals, mills & metals, financial services, healthcare, wholesale & distribution, and consumer product sectors. Chelford has offices throughout the UK and Europe, employs over 150 professionals and serves more than 250 customers. For more information, please visit www.solarsoft.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.com.