Marlin Network sells to employees

Springfield-based marketing agency Marlin Network yesterday announced its establishment of an employee stock ownership plan.

The sale was finalized Nov. 22 for an undisclosed amount, according to a news release from New York-based CSG Partners LLC, a boutique investment bank that served as financial adviser on the sale.

Marlin Network, which was started in 1985, now is completely owned by the company's 84 employees.

"This business is all about our people. They make the product and deliver the creative thinking and passion that makes this business so rewarding. The ESOP allows us to give back to our employees who have contributed so much to the success of Marlin Network and its affiliates. It also ensures Marlin Network remains independent and is positioned for continued growth," company founder Dennis Marlin said in the release.

The company has annual capitalized billings of roughly $61 million, according to its Web site.

The Marlin Network umbrella comprises Deep, The Marlin Company Advertising Agency, The Alchemedia Project, FoodIQ, StarAwards and Marlin Network Consulting Group.

Through its business units, the company represents more than 70 food and beverage brands, including Proctor & Gamble, Starbucks, Mission Foods and Bush’s Beans.

Denny Summers, an ESOP attorney with Taylor English in Atlanta, served as Marlin Network's legal counsel through the sale, the release said.[[In-content Ad]]