Company Release – 01/04/2017 06:00
MOUNT LAUREL, N.J., Jan. 04, 2017 (GLOBE NEWSWIRE) — Marlin Business Services Corp. (NASDAQ:MRLN), a leading provider of credit products and services to small businesses, today announced that it has acquired Horizon Keystone Financial, a long established originator of equipment finance credit products focused in the office furniture, heating/ventilation/air conditioning/refrigeration (HVAC/R) and automotive markets. The acquisition, Marlin’s first, represents an important milestone for the company and extends Marlin’s existing equipment finance business into new and attractive markets.
Horizon Keystone, founded in 1994, has over twenty years of experience providing equipment finance solutions to small businesses. Daniel Harkin, founder and CEO of Horizon Keystone, will remain with Marlin as a senior advisor supporting Horizon Keystone’s transition as well as other Marlin strategic initiatives.
“Horizon Keystone is an ideal complement to our existing equipment finance business by providing Marlin with the opportunity to enter new equipment markets while further leveraging our existing infrastructure,” said Jeffrey Hilzinger, Marlin’s President and CEO. “Also, by providing Horizon Keystone with access to our technology, marketing resources and low cost funding platform, we believe that there is an opportunity to significantly accelerate Horizon Keystone’s future growth.”
“This acquisition is extremely positive for Horizon Keystone and a great opportunity to continue to build on our long-term success,” said Mr. Harkin. “We are excited to become part of Marlin’s industry leading platform and to take advantage of Marlin’s capabilities to strengthen and grow our customer relationships.”
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. All forward-looking statements (including statements regarding 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,” “intend” and similar expressions are generally intended to identify forward-looking statements. Economic, business, funding, market, competitive, legal and/or regulatory factors, among others, 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 in our filings with the Securities and Exchange Commission, including the sections captioned “Risk Factors” and “Business” in the Company’s Form 10-K filed with the Securities and Exchange Commission. 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.