Citizens Leads $50 Million Senior Credit Facility for Crosslake Technologies

PROVIDENCE, R.I. – Citizens announced that it has provided a $50 million credit facility to Charlotte, N.C.-based Crosslake Technologies. Citizens is Left Lead Arranger and Administrative Agent.

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, all delivered by experienced technology practitioners.  It is a portfolio company of Charlotte, N.C.-based Falfurrias Capital Partners.

The credit facility consists of a $25 million revolving line of credit and a $25 million term loan. The funds will be used to refinance debt and fund acquisitions.

Wilson Sullivan, Partner, Falfurrias Capital Partners, said: “Working with the Citizens team was a great experience from start to finish.  They provided the upfront advice on capital structuring and followed up with seamless deal execution between their team and ours.”

Barr Blanton, CEO, Crosslake Technologies, said: “The Citizens team ran an efficient process that was mindful of our time and highly focused.  We appreciated their communication and partnership.”

Citizens is a trusted strategic and financial partner, consistently delivering clear and objective advice. The Citizens approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.

For more information, please go to the Citizens website.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $226.7 billion in assets as of June 30, 2022. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,300 ATMs and more than 1,200 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.