Falfurrias Capital Partners (FCP), a Charlotte-based private equity firm focused on growth-oriented, middle-market businesses, is to merge Corsis, a provider of data-powered technology due diligence services, with its newest portfolio company, Crosslake Technologies.
Corsis brings a consistent, data-driven approach to technology due diligence assessments through their extensive TechIndicator best practice library and proprietary Confidence Index scoring methodology. With their proprietary software, Corsis delivers actionable insights to private equity firms and portfolio companies via a centralised dashboard, complete with objective benchmarking data that help them prioritise technology initiatives, maximising both short- and long-term success.
Corsis has supported USD30 billion in deal value and guided more than 200 private equity firms and portfolio companies with their objective and reliable analysis of technology operations throughout the investment lifecycle. Crosslake performs technical due diligence work on behalf of private equity firms and supports portfolio companies after an investment to enhance their software and accelerate growth.
Together, Crosslake and Corsis will offer private equity clients and their portfolio companies with a comprehensive suite of services that accelerate growth, minimise risk, and maximise value throughout the hold period.
“For years, we’ve played a key role in growing the value of private equity investments through objective data-driven insights, and now we have a unique opportunity to strategically broaden our capabilities,” says Gregg Alwine, CEO, Corsis. “Combining our unparalleled insights with Crosslake’s team of first-class software practitioners will ultimately deliver a platform that’s truly unmatched in our industry.”
“Beyond anything else, Crosslake is dedicated to accelerating our customers’ business growth and return on investment,” says Russ Albright, founder, Crosslake Technologies. “Between the resources that Falfurrias can provide and the industry-leading platform and analytics that Corsis brings to the table, we’ve never been better positioned to help companies scale and serve as the ideal end-to-end technology provider for today’s private equity firms and their portfolios.
“Corsis is the next logical step and a complementary acquisition to Crosslake’s evolution, and we believe they’ll be able to drive significantly more value to private equity firms as one integrated team,” says Wilson Sullivan, Partner, Falfurrias Capital Partners. “Private equity firms increasingly see technology as the critical function to execute their thesis and drive investment returns, and our Industry First approach identified Crosslake and Corsis as the clear market leaders in delivering this capability.”
