SOURCE: Marlin & Associates

Marlin & Associates

October 04, 2016 07:30 ET

Marlin & Associates Advises BillingTree on Significant Growth Investment From Parthenon Capital Partners

NEW YORK, NY--(Marketwired - October 04, 2016) - Marlin & Associates announced today that its client, BillingTree, has completed a majority recapitalization with Parthenon Capital Partners in partnership with BillingTree's senior management team. BillingTree is a leading provider of omni-channel, integrated payments solutions to the healthcare, ARM and financial services industries. Parthenon is a growth-oriented private equity firm that partners with and invests in leading management teams and their companies. Marlin & Associates, a boutique investment banking and strategic advisory firm and an experienced advisor to financial technology companies, acted as exclusive strategic and financial advisor to BillingTree in the transaction.

Headquartered in Phoenix, Arizona, BillingTree® was established in 2003 to meet the market's growing need for a vertically-focused provider of integrated payments solutions. Serving the healthcare, ARM and financial services sectors, the Company has experienced significant growth over the past few years, growing payment volumes at a compounded rate of nearly 40% per annum since 2013.

In 2015, the Company announced the launch of Payrazr®, a proprietary, web-based solution suite comprised of a payment gateway, consumer portal and virtual terminal, among other features. Following the growth investment from Parthenon, BillingTree will continue to focus on industry-specific strategies via integration with leading software partners in the Company's core verticals, a customer-first service culture, and a variety of value-added offerings, such as the Company's compliance suite.

"This is a very important step for BillingTree and its management team, and we enjoyed working with such a talented group of professionals," said Jonathan Kaufman, Senior Managing Director at Marlin & Associates. "Edz Sturans and the team at BillingTree have an impressive track record and differentiated solution. We look forward to continue to hear about their future success."

"We would like to thank Jonathan and the team at Marlin & Associates for their strong support and expertise during this transaction," said Edgars "Edz" Sturans, BillingTree's President and CEO. "Marlin & Associates understood our industry, our company and the myriad of complex issues that must be navigated to in order to complete a successful, strategic transaction. Marlin & Associates created significant value for our shareholders as well as all of the Company's stakeholders. We are extremely excited about this next chapter for BillingTree, and we look forward to leveraging our position as a leader in integrated payment solutions in order to further grow our footprint into adjacent industries."

Marlin & Associates will be sponsoring and attending the Money20/20 payments technology conference October 23 - 26 in Las Vegas. Please reach out if you will also be attending -- jkaufman@marlinllc.com.

About Marlin & Associates

Marlin & Associates is one of the most active investment banking and strategic advisory firms providing counsel to worldwide buyers and sellers of middle-market technology firms. Headquartered in New York City, with offices in San Francisco, Washington, D.C., and Toronto, Marlin & Associates has won numerous awards including the "Middle-Market Investment Bank of the Year," "Middle-Market Financing Agent of the Year - Equity," and "TMT Advisory Bank of the Year." More than 20 transactions on which Marlin & Associates has advised have been recognized as "Deal-of-the-Year". The Marlin & Associates team of professionals has advised on more than 200 information-technology transactions in 26 countries.

Some recent clients that Marlin & Associates has advised include:

  • iTransact, a leading provider of online, mobile and traditional payment processing solutions, which Marlin & Advisors advised, was acquired by Payroc;
  • Xignite of San Mateo California which Marlin & Associates advised on a $20.5 million Series C funding round led by Tokyo-based QUICK Corporation, part of the Nikkei Group;
  • Alacra, Inc. of New York, NY Information and Workflow Solutions for Financial Institutions & Professional Service Firm, which Marlin & Associates advised on its sale to Opus Global, a leading provider of SaaS-based compliance solutions and a portfolio company of GTCR;
  • Varden Technologies, a Boston-based provider of client and advisor communication solutions for investment firms, which Marlin & Associates advised on its acquisition by SS&C Technologies Holdings, Inc. (NASDAQ: SSNC);
  • Aquiline Capital Partners LLC a New York-based private equity firm, which Marlin & Associates advised on its investment into Dublin-Ireland based Fenergo, a leading provider of lifecycle management software solutions for capital markets participants;
  • Information Mosaic Ltd of Dublin Ireland, a leading software provider for post-trade securities processing on its sale to Markit (NASDAQ: MRKT);
  • AIM Software of Vienna Austria which Marlin & Associates advised on a majority investment by to Welsh, Carson, Anderson & Stowe ("WCAS") the New York based private equity firm;
  • Tagetik Software srl of Lucca, Italy which Marlin & Associates advised on its $36M capital raise from White Bridge Investments S.p.A.;
  • RevSpring Inc. of Wixom, Michigan which Marlin & Associates advised on its acquisition of Talksoft Corporation;
  • Current Analysis of Washington, D.C. which Marlin & Associates advised on its sale to Progressive Digital Media plc (AIM: PRO);
  • Blackstone (NYSE: BX) and the Goldman Sachs (NYSE: GS) Merchant Banking Division which Marlin & Associates advised on their acquisition of Ipreo Holdings LLC ("Ipreo") from affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR") (NYSE: KKR);
  • ByAllAccounts, Inc. of Woburn, Massachusetts which Marlin & Associates advised on its sale to Morningstar, Inc. (NASDAQ: MORN).

Marlin & Associates Securities LLC, a wholly-owned subsidiary of Marlin & Associates Holding LLC, is a broker-dealer registered with the Securities and Exchange Commission and is a FINRA/SIPC member firm (www.finra.org). Investment banking and/or securities are offered through Marlin & Associates Securities LLC.

Please see the Marlin & Associates press release here.

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