XLN Business Services beats other UK telcos with fastest growing profits
Second Year running in Sunday Times Profit Track 100 for the small business specialist
17th April 2012, London –XLN Business Services, the London-based provider of business services to small businesses, has beaten other UK telecoms companies to have the fastest growing profits. XLN has moved up 35 places to #49 in the 2012 Sunday Times Profit Track 100. Last year XLN ranked #84 on the list, which ranks Britain‘s 100 private companies with the fastest-growing profits, based on their latest 3 years of available accounts.
XLN has boosted its profits as it expands beyond its discount phone line and broadband roots to help small businesses reduce their overheads with low cost card processing, energy, mobile and Voice over IP phone systems.
Christian Nellemann, founder and Group CEO said, “We won a place on this list because small businesses need us now more than ever to cut overheads. Small businesses are becoming more organised with their finances and cutting costs is a primary concern for them and us. We give business owners fast and efficient service at low prices, which is why 130,000 have left other providers and joined XLN, and so our profits over the last year have risen.”
Over a difficult 2 years for the economy, an increase in sales and reduced costs meant profits for XLN rose by 62% a year from £4.5m in 2009 to £11.8m in 2011.
ECI Partners, a UK mid-market private equity firm, invested in XLN alongside management, acquiring a majority stake from Zeus Private Equity. The additional investment from ECI gives XLN considerable financial resources to act as a key consolidator in its market.
Find us in the Profit Track 100 http://www.fasttrack.co.uk/fasttrack/leagues/pt100supplement.html
About XLN Group
XLN is the small business specialist. XLN was founded by Christian Nellemann in 2002 as XLN Telecom. It is located in London, United Kingdom and supplies business phone lines, business broadband, gas, electricity and card processing to more than 130,000 customers.
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 2012 XLN was listed as #24 in the Sunday Times Buyout Track 100 and #49 in the Sunday Times Profit Track. In 2011 XLN won a British Venture Capital Association (BVCA) award for ‘Best Private Equity Backed Management Team’.
More details at: 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 Ascribe, Clinisys, ClarityBlue, GK Communications, Language Line, MM Group, NCC, OSI and Guardian iT.