Business Services, Technology
Meridian advises Crosslake Technologies in its acquisition by Falfurrias Capital Partners
Published January 19, 2021
FOR IMMEDIATE RELEASE // SEATTLE, WASHINGTON
Meridian Capital LLC (“Meridian”), a leading Seattle-based middle market sourcing and M&A advisory firm is pleased to announce the successful acquisition of one of its clients, Crosslake Technologies (“Crosslake” or the “Company”) by Falfurrias Capital Partners (“FCP”).
Founded in 2008 and located in Kirkland, Washington, Crosslake Technologies performs technical due diligence work on behalf of private equity firms and supports portfolio companies after an investment to enhance technology-related processes and accelerate growth. Core value creation services include support of carve-out and integration initiatives, product strategy, interim leadership, organization and development optimization, architecture roadmaps and development, and security assessments and programs.
“From beginning to end, the Meridian Capital team served as an exceptional partner to us in helping position Crosslake to the market and driving the deal to a successful close. They continually kept our priorities and best interests as their own. I’m excited about this next chapter for Crosslake and the opportunity it provides for our customers and our team.”Russ Albright, CEO of Crosslake
Crosslake was founded by Russ Albright, a founding member of the Engineering Excellence team at Microsoft, which was mandated directly by Bill Gates to find better ways to develop, secure, deploy and operate software in an ever-changing and competitive environment. Since 2008, Albright has built a team composed of former CTOs, CIOs and executives with extensive software development expertise who help improve the deployment of new platforms and drive product development.
Crosslake Technologies currently maintains more than 300 active client relationships, having worked with more than 100 private equity firms and asset managers around the world. In 2020, the Company completed more than 400 technical due diligence projects and more than 100 post-close value creation projects. As part of the investment, FCP executives Joe Price and Wilson Sullivan will serve as board members.
Patrick Ringland, Managing Director and Head of the Technology Practice at Meridian stated, “We’re very happy with the outcome for Russ, Judi and the entire team. The acquisition represents an exciting outcome for all parties and provides Crosslake with additional capabilities and resources to continue expanding its offerings to current customers and into new markets.”
For more information about this transaction, please contact one of the team members below:
About Meridian Capital
Founded in 1995, Meridian Capital is a Seattle-based M&A advisory firm, advising business owners on complex corporate finance, M&A and strategic challenges for over 26 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of professionals with financial, transactional, and operational expertise, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace & defense, business services, consumer, diversified industrials, food & beverage, technology, and telecommunications.