XLN Business Services
Founded in 2002 by its current CEO, Christian Nellemann, XLN Business Services is the leading independent provider of fixed line, broadband, energy and bank card processing services to small businesses across the UK with a particular focus on micro SMEs with between one and 10 employees. xln.co.uk
How we helped
During ECI’s investment XLN made two bolt-on acquisitions: acquiring Card Processing Solutions (to provide a credit and debit card processing service to its customer base) and Shine Telecom (a smaller provider of fixed line telecoms to small businesses).
ECI supported a significant strengthening of the senior management team below the founder/CEO with a new CFO, sales director, account management director, product director and business transformation director.
Results and return
XLN had profit growth of 40% between September 2010 and June 2014 and the group had strong cash generation. Total group employees at XLN increased by 67% during ECI’s four year investment to over 250 employees at June 2014.
XLN was sold to GSO Capital Partners and XLN’s management team in October 2014 delivering a multiple of 3x ECI’s original investment and a 35% IRR.