London, UK (PRWEB UK) 15 July 2011
XLN Ltd, has acquired Card Processing Solutions Ltd. (CPS), a leading provider of card processing services to UK small businesses.
According to Christian Nellemann, Founder and Group CEO, a significant number of XLN’s 125,000 SME customers currently use card processing services connected via fixed lines, with a growing proportion using GPRS connected terminals.
Card Processing Solutions provides low cost card payment terminals and payment solutions to SMEs who need to process credit and debit card transactions – retailers, hotels, restaurants and online merchants. Working in partnership with major banks and card terminal providers, CPS offers a comprehensive range of reliable solutions that meet the card processing needs of most businesses.
Christian Nellemann said: “CPS is a great company doing a great job and has thousands of loyal customers. It is an excellent fit with our customer base and a natural extension of our business model as we continue to develop a rich set of business services. We champion small businesses, helping our customers save money on essential services while delivering exceptional service.”
Michael Ault, Managing Director of CPS added “it is an exciting time to be joining with XLN – the company lives its values of discount pricing backed up with quality service – both of which are essential for small business owners. As part of this dynamic company we will be able to deliver substantial growth, a one stop shop for the customer and a great return to the investors.”
Michael will continue as Managing Director of CPS which becomes part of the XLN Group.
XLN was recently listed as #6 in the 2011 Sunday Times Buyout Track and #84 in the Sunday Times Profit Track 2011 having posted a 100% profit increase from 2008 to 2010.
Contact: Barney Jones, tel. 07713 629694, b(dot)jones(at)xlntelecom(dot)co(dot)uk
XLN Ltd. was founded by Christian Nellemann in 2002 as XLN Telecom selling business phone line connections and broadband. It is located in London, United Kingdom and supplies business phone lines and business broadband to more than 125,000 customers. Deregulation of the UK Telecom’s industry enabled XLN to offer an alternative phone service to BT™ at a considerably lower cost.
XLN’s founder and CEO was first recognised as Ernst & Young’s Entrepreneur of the Year in 2006 for Technology and Communication, winning again in 2010. XLN has also been a National Business Awards Finalist for 5 years: 2004, 2005, 2006, 2009 and 2010.
In 2007 and 2008, XLN was ranked on the Sunday Times Tech Track 100 survey of the 100 fastest growing technology companies in the UK and in 2011 was listed as #6 in the Sunday Times Buyout Track 100 and #84 in the Sunday Times Profit Track. IN 2010 and 2011 XLN also won British Venture Capital Association (BVCA) awards for ‘Best Private Equity Backed Management Team’.
More details at: http://www.xln.co.uk
About ECI Partners
Originally founded in 1976 as Equity Capital for Industry, ECI is one of the longest established private equity groups in the UK. With offices in Manchester and London, and a team of 21 dedicated professionals, ECI specialises in buyouts, buy-ins and development capital deals of £10 million to £150 million.
ECI is owned by its team and manages private equity funds with a capital base of over £880 million and has provided funds for over 250 companies.
In December 2008 ECI raised ECI 9, a £437 million fund and ECI’s ninth buyout fund. This fund exceeded the original £400m target in just three months with over 90% of the capital being committed by existing ECI investors.
ECI’s other notable investments in the Software and IT Services sector include Fourth Hospitality, Ascribe, Clinisys, ClarityBlue, GK Communications, Language Line, MM Group, NCC, OSI and Guardian iT.
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