Law firm HowardKennedyFsi has advised Christian Nellemann, chief executive and founder of XLN, following the decision by private equity firm ECI Partners to sell its stake in XLN to its management team.
XLN is a provider of fixed line and mobile telephony, broadband, energy and card processing services to small and micro businesses across the UK.
XLN’s management team is financing the purchase through vehicles managed or advised by GSO Capital Partners, a division of the Blackstone Group.
Paul Glassberg, a partner in HowardKennedyFsi’s corporate team, says: “I have been advising Christian for a number of years and have watched XLN grow. Christian is an inspirational leader building a first-class business. This latest development will ensure that the company continues its charge on changing how small businesses buy the essential services they need to be successful.”
Nelleman (pictured) says: “I would like to thank Paul for his advice and support. He is an essential part of our team. The backing of GSO, a blue chip investor, is a strong endorsement of our entrepreneurial approach, our high quality management team and the opportunities for acquisitive and organic growth that we have.
“I look forward to widening our crusade to help more of Britain’s Heroes of the Economy – the micro SMEs – get a better deal on business services and receive the world class customer service they demand.”
