UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ___)*
Marlin Business Services Corp.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
571157 10 6
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(CUSIP Number)
December 31, 2003
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
| | Rule 13d-1(b)
| | Rule 13d-1(c)
|X| Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act,
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP NO. 571157 10 6 13G PAGE 2 OF 9 PAGES
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| 1 | NAMES OF REPORTING PERSONS |
| | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) |
| | |
| | Primus Capital Fund IV Limited Partnership |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] |
| | (See Instructions) ----- |
| | (b) [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Delaware |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 2,130,732 (See Item 4) |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | 0 |
| |-------|-----------------------------------------------------------------|
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER |
| | | |
| | | 2,130,732 (See Item 4) |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 2,130,732 (See Item 4) |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
| | (See Instructions) [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 19.0% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON (See Instructions) |
| | |
| | PN |
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CUSIP NO. 571157 10 6 13G PAGE 3 OF 9 PAGES
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| 1 | NAMES OF REPORTING PERSONS |
| | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) |
| | |
| | Primus Venture Partners IV Limited Partnership |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] |
| | (See Instructions) ----- |
| | (b) [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Delaware |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 2,219,513 (See Item 4) |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | 0 |
| |-------|-----------------------------------------------------------------|
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER |
| | | |
| | | 2,219,513 (See Item 4) |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 2,219,513 (See Item 4) |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
| | (See Instructions) [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 19.8% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON (See Instructions) |
| | |
| | PN |
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CUSIP NO. 571157 10 6 13G PAGE 4 OF 9 PAGES
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| 1 | NAMES OF REPORTING PERSONS |
| | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) |
| | |
| | Primus Venture Partners IV, Inc. |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] |
| | (See Instructions) ----- |
| | (b) [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | |
| | Delaware |
|-------------------------------|-------|-----------------------------------------------------------------|
| NUMBER OF | 5 | SOLE VOTING POWER |
| | | |
| SHARES | | 0 |
| |-------|-----------------------------------------------------------------|
| BENEFICIALLY | 6 | SHARED VOTING POWER |
| | | |
| OWNED BY | | 2,219,513 (See Item 4) |
| |-------|-----------------------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| | | |
| REPORTING | | 0 |
| |-------|-----------------------------------------------------------------|
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER |
| | | |
| | | 2,219,513 (See Item 4) |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 2,219,513 (See Item 4) |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |
| | (See Instructions) [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | |
| | 19.8% |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON (See Instructions) |
| | |
| | CO |
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CUSIP NO. 571157 10 6 13G PAGE 5 OF 9 PAGES
Item 1.
(a) Name of Issuer:
Marlin Business Services Corp.
(b) Address of Issuer's Principal Executive Offices:
124 Gaither Drive
Suite 170
Mount Laurel, New Jersey 08054
Item 2.
(a) Name of Person Filing:
This Schedule 13G is being jointly filed by
each of the following persons pursuant to
Rule 13d-1(k)(l) promulgated by the
Securities and Exchange Commission pursuant
to Section 13 of the Securities Exchange Act
of 1934, as amended (the "Act"): (i) Primus
Capital Fund IV Limited Partnership ("PCF IV
LP"), a Delaware limited partnership, by
virtue of its direct beneficial ownership of
2,130,732 shares of common stock, par value
$.01 per share (the "Common Stock"), of
Marlin Business Services Corp., a
Pennsylvania corporation (the "Company");
(ii) Primus Venture Partners IV Limited
Partnership ("PVP IV LP"), a Delaware
limited partnership, as the sole general
partner of PCF IV LP; and (iii) Primus
Venture Partners IV, Inc. ("PVP IV Inc."), a
Delaware corporation, as the sole general
partner of PVP IV LP. PCF IV LP, PVP IV LP
and PVP IV Inc. are hereinafter collectively
referred to as the "Reporting Persons." The
Reporting Persons have entered into a Joint
Filing Agreement, dated January 26, 2004, a
copy of which is filed with this Schedule
13G as Exhibit 99.1, pursuant to which the
Reporting Persons have agreed to file this
statement jointly in accordance with the
provisions of Rule 13d-1(k)(1) under the
Act.
(b) Address of Principal Business Office, or if
None, Residence:
The address of the principal business office
of each of the Reporting Persons is c/o
Primus Venture Partners, 5900 Landerbrook
Drive, Suite 200, Cleveland, Ohio
44124-4020.
(c) Citizenship:
Each of PCF IV LP and PVP IV LP are limited
partnerships organized under the laws of the
State of Delaware, and PVP IV Inc. is a
corporation incorporated under the laws of
the State of Delaware.
(d) Title of Class of Securities:
Common Stock, par value $.01 per share
(e) CUSIP Number:
571157 10 6
CUSIP NO. 571157 10 6 13G PAGE 6 OF 9 PAGES
Item 3. If this statement is filed pursuant to Rule 13d-1(b),
or 13d-2(b) or (c), check whether the person filing is a:
(a) |_| Broker or dealer registered under Section
15 of the Act (15 U.S.C. 78o);
(b) |_| Bank as defined in Section 3(a)(6) of the
Act (15 U.S.C. 78c);
(c) |_| Insurance company as defined in Section
3(a)(19) of the Act (15 U.S.C. 78c);
(d) |_| Investment company registered under Section
8 of the Investment Company Act of 1940
(15 U.S.C. 80a-8);
(e) |_| An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund
in accordance with Rule 13d-1(b)(1)(ii)(F);
(g) |_| A parent holding company or control person
in accordance with Rule 13d-1(b)(1)(ii)(G);
(h) |_| A savings association as defined in Section
3(b) of the Federal Deposit Insurance
Act (12 U.S.C. 1813);
(i) |_| A church plan that is excluded from the
definition of an investment company under
Section 3(c)(14) of the Investment Company
Act of 1940 (15 U.S.C. 80a-3); or
(j) |_| Group, in accordance with Rule
13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Each Reporting Person named in response to Item 2
hereof has, as of December 31, 2003, shared power to vote or
to direct the vote and shared power to dispose or to direct
the disposition of the Common Stock as follows:
PRIMUS CAPITAL FUND IV LIMITED PARTNERSHIP. PCF IV LP
has shared power to vote and to dispose of 2,130,732 shares of
Common Stock currently held by PCF IV LP, constituting
approximately 19.0% of the outstanding Common Stock.
PRIMUS VENTURE PARTNERS IV LIMITED PARTNERSHIP. PVP
IV LP, as the sole general partner of PCF IV LP, may be deemed
to have shared power to vote and to dispose of 2,130,732
shares of Common Stock currently held by PCF IV LP. In
addition, PVP IV LP is also the sole general partner of Primus
Executive Fund Limited Partnership ("PEF LP") and, in such
capacity, may be deemed to have shared power to vote and
dispose of the 88,781 shares of Common Stock currently held by
PEF LP. In total, PVP IV LP may be deemed to have the shared
power to vote and dispose of approximately 19.8% of the
outstanding Common Stock. The filing of this Schedule 13G by
PVP IV LP shall not be considered an admission that PVP IV LP
is, for the purpose of Section 13(g) of the Act, the
beneficial owner of such shares held by PCF IV LP or PEF LP.
PRIMUS VENTURE PARTNERS IV, INC. PVP IV Inc., as the
sole general partner of PVP IV LP, may be deemed to have the
shared power to vote and to dispose of 2,130,732 shares of
Common Stock currently held by PCF IV LP and the 88,781 shares
of Common Stock currently held by PEF LP. In total, PVP IV
Inc. may be deemed to have the shared power to vote and
dispose of approximately 19.8% of the outstanding Common
Stock. The filing of this Schedule 13G by PVP IV Inc. shall
not be considered an admission that PVP IV Inc. is, for the
purpose of Section 13(g) of the Act, the beneficial owner
of such shares held by PCF IV LP or PEF LP.
CUSIP NO. 571157 10 6 13G PAGE 7 OF 9 PAGES
PVP IV Inc. has five shareholders and directors,
Loyal W. Wilson, James T. Bartlett, William C. Mulligan,
Jonathan E. Dick and Steven Rothman.
Except as otherwise specially noted, all of the
percentages calculated in this Schedule 13G are based upon an
aggregate of 11,213,610 shares of Common Stock outstanding on
or about December 22, 2003, as disclosed in the Company's last
filed quarterly report on Form 10-Q for the quarter ended
September 30, 2003. Each Reporting Person expressly disclaims
beneficial ownership of any shares of Common Stock
beneficially owned by each other Reporting Person.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check the
following: |_|
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
No person other than the persons named in Item 4 have
the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the
sale of the shares of Common Stock.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the
Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certifications.
Not applicable.
CUSIP NO. 571157 10 6 13G PAGE 8 OF 9 PAGES
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Date: January 26, 2004
PRIMUS CAPITAL FUND IV LIMITED PARTNERSHIP
By: Primus Venture Partners IV Limited Partnership
Its: General Partner
By: Primus Venture Partners IV, Inc.
Its: General Partner
By: /s/ Steven Rothman
------------------------------------------------
Its: Secretary and Treasurer
PRIMUS VENTURE PARTNERS IV LIMITED PARTNERSHIP
By: Primus Venture Partners IV, Inc.
Its: General Partner
By: /s/ Steven Rothman
------------------------------------------------
Its: Secretary and Treasurer
PRIMUS VENTURE PARTNERS IV, INC.
By: /s/ Steven Rothman
------------------------------------------------
Its: Secretary and Treasurer
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Agreement Regarding the Joint Filing of Schedule 13G