Addition Marks Strategic Investment in Continued Growth of Cybersecurity Practice
CHARLOTTE, N.C., July 14, 2022--(BUSINESS WIRE)--Crosslake Technologies, a leader in providing data-driven technology advisory services to private equity firms and their portfolio companies, announced it has completed its third add-on acquisition in the past 18 months with the purchase of cybersecurity advisory firm VantagePoint. Terms were not disclosed. Crosslake is a portfolio company of Charlotte-based private equity firm Falfurrias Capital Partners.
The acquisition marks another investment by Crosslake in its growing cybersecurity practice, which the VantagePoint team will join to provide advanced services in program implementation, transaction due diligence, fractional CISO leadership and penetration testing, as well as consultative audit and assessment support. VantagePoint co-founders Danny Tijerina and Rohan Kotian will serve as managing directors at Crosslake, where they will focus on direct client service while also helping advance the firm’s security practice, which will remain a focus of strategic growth.
"Cybersecurity is an imperative for investors, boards and management teams as they navigate complex, fast-moving environments with growing risk to middle-market businesses in terms of both incident frequency and impact. Our team has long admired VantagePoint, which shares our client-focused, expert-driven approach," said Barr Blanton, Crosslake’s chief executive officer. "VantagePoint is consistently recognized for both its thought leadership and its ability to translate complex cybersecurity matters into relevant commercial decisions. Joining forces with Rohan, Danny and the VantagePoint team allows us to further expand our capabilities and grow our team of expert cybersecurity practitioners as we provide pragmatic, commercially-focused guidance that helps our clients stay ahead of the curve and build a cyber-savvy culture throughout the investment lifecycle."
"Becoming part of Crosslake will allow our clients and team to benefit from deeper resources that will improve our ability to deliver best-in-class security assessment, testing and consulting services, even as demand continues to grow sharply," said Tijerina and Kotian in a joint statement. "We’re excited to deploy our knowledge and experience to help an even broader range of companies and private equity firms take action to assess and strengthen their defenses."
Falfurrias Capital invested in Crosslake in December 2020, followed by the acquisition of data-powered due diligence advisor Corsis and its patented platform for technology benchmarking in December 2020. Crosslake acquired Renna Partners, a leading technology advisory firm for middle market investors, in December 2021.
"Crosslake is an incredibly strong platform with significant room for continued growth built on the principles of client service and technology thought leadership," said Wilson Sullivan, partner with Falfurrias Capital Partners. "With a strong management team, a clear vision and complementary pieces like Corsis, Renna and now VantagePoint, we’re excited by the firm’s potential to lead the way as the technology advisors to private equity firms and their portfolio companies."
About Crosslake Technologies
Crosslake was founded in 2008 by an original member of Microsoft’s Engineering Excellence team with the intent to help changemakers buy, build and run technology that creates value. Crosslake’s unmatched community of technical practitioners – former CTOs, CIOs, architects and engineers – are skilled at translating technology buzzwords into actionable, business-focused insight. Their seasoned judgement is supported by the patented Corsis® platform, which leverages data from more than 3,500 prior technology M&A transactions to define objective, measurable TechIndicators® that private equity investors and management teams rely upon to deliver strategic value creation initiatives and inform diligence. Learn more at www.crosslaketech.com.
Founded in 2016 in Austin, Texas, VantagePoint helps clients enhance their security posture, reduce risk and facilitate compliance through our team of seasoned, highly-certiﬁed security and compliance veterans. We partner with clients to achieve security goals and business outcomes by delivering efficient, high-quality service and a commitment to client success. For more information, visit www.vantagepoint.co.
About Falfurrias Capital Partners
Falfurrias Capital Partners is a Charlotte-based private equity investment firm founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America; Marc Oken, former CFO of Bank of America; and Managing Partner Ed McMahan. The firm has raised more than $1.9 billion across five funds and invests in growing, middle-market businesses in sectors where the firm’s operational resources, relationships and sector expertise can be employed to complement portfolio company executive teams in support of growth objectives. Falfurrias Capital Partners employs a proprietary, research-based process called "Industry First" to identify markets with durable growth trends, construct a thesis based on research findings, and partner with management teams to create strategic value. For more information, visit www.falfurriascapital.com.
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