Marlin Equity Partners, a California-based private investment firm, has acquired the check and cash automation equipment and related US maintenance, printer and direct supply business of Unisys and formed Burroughs Payment Systems.
Burroughs is a provider of hardware and related services that address the image capture and payment processing needs of financial institutions, remittance processors and retailers worldwide. The company’s products and services allow customers to process check and cash payments while reducing operating costs and improving efficiencies related to payment processing.
Andy Martinez, principal at Marlin, said: “Marlin will enable Burroughs to pursue an aggressive growth strategy by leveraging the company’s brand, cutting edge technology and experienced management team.”
Alan Howard, president and CEO of Burroughs, said: “We are very excited to partner with Marlin and return to the Burroughs’ name, once considered one of the most recognized and highly regarded names in business. Marlin’s financial and operational expertise combined with our industry-leading products and focus on customer service will enable us to capitalize on opportunities to further enhance customer satisfaction and increase market share.”
Mike Zawalski, operating partner at Marlin, said: “Marlin is committed to providing the financial and strategic resources and oversight to accelerate growth. We look forward to working with the Burroughs’ management team to build long-term value by growing the company organically and by making near-term acquisitions.”