Citizens Provides $50MM Credit Facility to Crosslake Technologies
SEP 19, 2022 - 7:44 am
Citizens provided a $50 million credit facility to Charlotte, NC-based Crosslake Technologies. Citizens is left lead arranger and administrative agent. The credit has a $25 million revolving line of credit and a $25 million term loan. The funds will be used to refinance debt and fund acquisitions.
Crosslake Technologies provides data-driven technology due diligence and value creation advisory services for private equity firms and their portfolio companies. The company’s capabilities include advisory support of software delivery processes, architecture, enterprise systems and cybersecurity. It is a portfolio company of Charlotte, NC-based Falfurrias Capital Partners.
“Working with the Citizens team was a great experience from start to finish,” Wilson Sullivan, a partner at Falfurrias Capital Partners, said. “They provided the upfront advice on capital structuring and followed up with seamless deal execution between their team and ours.”
“The Citizens team ran an efficient process that was mindful of our time and highly focused. We appreciated their communication and partnership,” Barr Blanton, CEO of Crosslake Technologies, said.
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