CHARLOTTE, N.C., April 28, 2021 /PRNewswire/ -- Crosslake Technologies, a leading provider of tech due diligence and advisory services to private equity firms and their portfolio companies, announced the appointment of Barr Blanton as Chief Executive Officer. The announcement was made in partnership with Falfurrias Capital Partners, a Charlotte-based private equity firm focused on growth-oriented, middle-market businesses, which made a majority investment in Crosslake Technologies in December 2020. Blanton will also serve on the Board of Directors of Crosslake Technologies.
As part of this announcement, former Crosslake Technologies CEO Russ Albright will serve as a member of the Board of Directors and remain active as a Senior Advisor, focusing on strategic initiatives, as well as client and market-facing activities. Gregg Alwine, the former CEO of Corsis, which merged with Crosslake in January 2021, will move into the role of Chief Operating Officer for Crosslake Technologies, helping to expand assessment solutions, improve portfolio diagnostic tools, and optimize processes to operate more efficiently and effectively.
Blanton comes from global management consulting firm McKinsey & Company, where he served as a partner in the Transformation and Private Equity practices, as well as managing partner of the firm's Charlotte, NC office. Blanton has extensive experience advising private equity firms, portfolio companies, and Fortune 500 clients on strategic and transformational initiatives.
"Crosslake has developed an incredible team of technologists with unmatched experience and data-driven insights to optimize the technology investment lifecycle, and I could not be more thrilled to help lead the next chapter," said Barr Blanton, Crosslake Technologies. "I applaud Russ, Gregg, and their teams for their achievements, and I look forward to working closely with them to help continue to strengthen our client impact and capabilities."
"Particularly on the heels of our new relationship with Corsis, the Crosslake team of practitioners is as well-positioned as ever to enhance and scale client impact," said Russ Albright, Crosslake Technologies. "With the support from Falfurrias and Barr's leadership and ability to strengthen the connection between technology expertise and the strategic business outcomes, Crosslake's future has never been brighter."
"Crosslake is at a truly exciting moment in their journey, and we believe that Barr is uniquely qualified to help drive the next evolution," said Joe Price, Falfurrias Capital Partners. "At Falfurrias, our Industry First approach enables us to identify teams and leaders that can maximize value. We have no doubt that Barr meets that standard and will continue to deliver long-term growth."
About Crosslake Technologies
Crosslake Technologies is an Information Technology and Software Development Services company, providing services including Transformational Roadmaps, Technical Assessments, Organizational Optimizations, Quality Assurance Acceleration, DevOps, and IT Operations. Crosslake works to transform organizations and optimize software delivery. With extensive boots-on-the-ground experience in IT execution and shipping software, Crosslake provides end-to-end value with expertise in management consulting and advisory services providing both strategic and tactical insight. Established in 2008, Crosslake is headquartered in Seattle, Washington. For more information, visit http://www.crosslaketech.com/.
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 approximately $1.0 billion across four 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 and companies to create strategic value. For more information, visit www.falfurriascapital.com.
SOURCE Crosslake Technologies