LOS ANGELES, June 20, 2012 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired Solvport, a nationwide provider of field services, project management, real-time monitoring, parts and supplies, and technical support for ATMs and electronic kiosks. Solvport will be integrated with Burroughs Payment Systems (“Burroughs”), a Marlin portfolio company, expanding Burroughs’ existing nationwide service network.
“Solvport and Burroughs share a common strategy in providing the highest level of service for their customers’ cash automation needs. In addition, the acquisition brings Burroughs a talented and successful team with deep industry expertise and a commitment to excellence in customer service,” stated Alan Howard, CEO of Burroughs.
Steve Johnson, a principal at Marlin, added “The combination strengthens Burroughs’ leadership in the maintenance and support services market. This transaction exhibits our continued commitment to supporting Burroughs’ growth.”
About Marlin Equity Partners
Marlin Equity Partners is a Los Angeles, California-based private investment firm with over $1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. 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 significantly strengthens a company’s outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 55 acquisitions. For more information, please visit www.marlinequity.com.
About Burroughs Payment Systems
Burroughs Payment Systems is a Plymouth, Michigan-based global provider of document and payment-processing image technology, cash-automation solutions and services to financial institutions and retailers. Its products provide banks and commercial customers with safe, secure and prompt document and cash processing that improves operational efficiencies and payment security. With more than 100 years of history, Burroughs is recognized as an industry leader in the development and deployment of technology for financial institutions. For more information, please visit www.burroughs.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.com.