LOS ANGELES, October 12, 2006 – Marlin Equity Partners today announced the acquisition of XKO Software Ltd from XKO Group plc. XKO is a leading UK-based provider of enterprise resource planning (ERP) software to small and medium-sized enterprises (SMEs) in the building supply chain, wholesale distribution and other specialist product markets throughout the UK.
David McGovern, Managing Director of Marlin Equity Partners, said, “We are pleased to complete another acquisition in the ERP software market. XKO is an exciting addition to our portfolio given its strong installed customer base and next generation product offerings. We are very excited about XKO’s prospects, and confident that our investment will enable management to grow the business and enhance its ERP solution.”
Shawn McMorran joins the existing senior management team and will lead XKO as its new Chief Executive Officer. Mr. McMorran has over 18 years of experience in the software industry, most notably as President of various operating companies within SunGard Data Systems. Prior to XKO, Mr. McMorran served as CEO of Almonde, a Benchmark Capital portfolio company.
McGovern added, “We are confident that the addition of Shawn McMorran to the management team at XKO will have an immediate positive impact on the company. Shawn is a proven software executive with experience in managing customer relationships, driving new name sales, and leading product innovation, while generating strong financial performance.”
Mr. McMorran added, “I am excited to be partnering with Marlin Equity to realize the significant potential at XKO. In addition to its capital resources, Marlin brings significant industry expertise in growing profitable software businesses and generating superior market returns for their investors. With Marlin’s support, we will be able to better leverage XKO’s positive market momentum to satisfy customer needs now and well into the future.”
About Marlin Equity Partners
Marlin Equity Partners is a leading private equity firm focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs in special situations. Marlin seeks to partner with outstanding management teams to strengthen and grow its portfolio companies. In addition to capital, the Marlin team provides a network of strategic resources and relationships that help management teams recognize and achieve long-term value opportunities within their businesses. In cases where growth through acquisition is appropriate, Marlin brings to bear extensive resources to manage the transaction and integration processes. Marlin Equity Partners has a long and successful track record of creating superior returns for its investors by adhering to a disciplined investment approach aimed at building long-term value. Marlin Equity Partners is headquartered in Los Angeles, California. For more information, please visit www.marlinequity.com.
About XKO Software Ltd.
XKO Software Ltd is a leading provider of enterprise resource planning (ERP) software to small and medium-sized enterprises (SMEs) in the building supply chain, wholesale distribution and other specialist product markets in the UK. XKO has five offices in the UK, employs 170 professionals and serves over 700 customers.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at firstname.lastname@example.org.