Firm: Marlin Equity Partners
Fund: Marlin Equity II
Hard Cap: $350M
Placement Agent: Probitas Partners
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Led by Managing Director Dave McGovern, Los Angeles-based Marlin Equity Partners was founded in 2005 with a spin-out team from tech buyout shop
Marlin Equity closed its first fund in August 2005 with $60 million in commitments. Other ex-Gores Technology Group members of the Marlin Equity Partners team include Nicholas Kaiser, a former associate, and P.J. Nachman, who worked in the M&A group. McGovern didn’t return a call seeking comment.
Marlin Equity typically backs companies generating sales of between $10 million and $500 million, but that aren’t necessarily generating any profits. On its Web site the firm describes itself as backing companies “undergoing varying degrees of operational, financial or market-driven change.”
The firm has eight companies in its portfolio. Its most recent deal was the buyout of bankrupt Ronco Corp., a TV infomercial company known for selling products like the Pocket Fisherman, the Veg-o-Matic and the Showtime Rotisserie Oven.
Marlin Equity recently expanded its health care business, adding Victor Otley as an operating partner to evaluate acquisition opportunities and oversee the portfolio. He was the founder and CEO of IntelliCare, which he sold in 2005. Placement agency Probitas Partners is raising the fund.—M.C.