Marlin Business Services Corp. Closes Acquisition of Horizon Keystone Financial
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.”
About Marlin Business Services Corp.
Marlin Business Services Corp. is a nationwide provider of credit products and services to small businesses with a mission of helping small businesses achieve their American dream. Our products and services are offered directly to small businesses and through financing programs with equipment manufacturers, distributors, dealers and other intermediaries. Marlin and its wholly-owned operating subsidiary, Marlin Business Bank, are publicly traded (NASDAQ:MRLN). For more information about Marlin, visit www.marlincorp.com or call toll free at (888) 479-9111.
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