Marlin Business Services acquired Horizon Keystone Financial, an 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, extends the company’s existing equipment finance business into new markets.
Horizon Keystone, founded in 1994, has more than 20 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,” Harkin said. “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.”
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