Thoma Bravo has acquired and merged MeridianLink and CRIF Lending Solutions. No financial terms were disclosed. Credit Suisse and Krall & Co. provided financial advice to Thoma Bravo on the deal while Raymond James did likewise for MeridianLink. Based in Costa Mesa, California, MeridianLink is a provider of enterprise business solutions for financial service organizations while CRIF Lending was a subsidiary of CRIF International, which specializes in the development and management of decision support systems.
SAN FRANCISCO, June 13, 2018 — Thoma Bravo, a leading private equity investment firm, today announced the acquisitions and merger of MeridianLink and the ACTion, Synergy, and Achieve divisions of CRIF Lending Solutions. The combined organization, named MeridianLink, services approximately 1,200 customers and over 300,000 end users. Tim Nguyen, MeridianLink’s founder and CEO, will lead the combined company through this exciting period of innovation and continued focus on industry-leading customer service. As part of the transaction, CRIF S.p.A. will become a shareholder in the new MeridianLink.
MeridianLink’s LoansPQ software is the most mature and time-tested loan origination and new account opening platform available, and the company has been a pioneer in providing innovative software solutions to financial institutions for over 20 years. Designed to make the lending process more efficient, the MeridianLink platform has been proven to increase loan volumes and generate higher ROI for customers, integrating with most core processors and over 200 third-party systems and product providers. By merging with CRIF Lending Solutions, which shares a similar history and mission, the new company is expected to scale rapidly to provide customers with even deeper functionality across the lending and account opening continuum.
“MeridianLink has a well-deserved reputation for making lending operations and the jobs of loan officers easier,” said Tim Nguyen, President and CEO of MeridianLink. “With the merger of MeridianLink and CRIF Lending Solutions, we continue to build on our industry-leading technology, with a focus on giving our customers the tools they need to succeed in today’s increasingly demanding financial services environment.”
The transaction is expected to enable the combined MeridianLink and CRIF Lending Solutions organization to extend technology investments into areas that will provide financial institutions with leading edge lending solutions, privacy protections, and best-in-class data analytics. Through these enhancements, the combined organization expects to improve management capabilities and increase product functionality for existing customers.
“Thoma Bravo has strong track record of investing in financial technology, and we are major believers in the outcomes that leading SaaS applications can deliver for customers and consumers in the credit union, bank and mortgage markets,” said A.J. Rohde, a Partner at Thoma Bravo. “We have followed MeridianLink and CRIF and have been aware of their respective category leadership for many years. This merger represents an incredible opportunity for us to create immediate scale benefits, and to partner with Tim Nguyen and his team who have built one of the finest and most successful founder-led companies we’ve seen across any market.”
“I am extremely happy that CRIF Lending Solutions and MeridianLink are coming together to create the best platform in the industry,” added Larry Howell, Chairman of CRIF Lending Solutions. “We are proud of the products that CRIF has built for some of the largest financial organizations in the world, and combining that technology with MeridianLink’s platform is a win-win for the entire market. Our employees and our customers will be a part of an industry-changing organization.”
Kirkland & Ellis served as Thoma Bravo’s legal advisor, while Credit Suisse and Krall & Co. served as Thoma Bravo’s financial advisors. Raymond James and Bryan Cave served as financial and legal advisors, respectively, to MeridianLink. Baker McKenzie served as legal advisor to CRIF.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $20 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include Datatel, Digital Insight, Entrust, SonicWall, SailPoint, Hyland Software, Deltek, Blue Coat Systems, Bomgar, Barracuda Networks, Compuware and SolarWinds. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.
MeridianLink, Inc., developer of the industry’s first multi-channel account opening and loan origination platform, is a leading provider of enterprise business solutions for financial service organizations. The company’s passion for excellence is reflected in their web-based credit reporting, lending and new account opening/deposit technologies, which all enjoy solid reputations as being cutting edge, reliable and affordable. Based in Costa Mesa, California, MeridianLink is committed to creating smart solutions that deliver real value.
For more information, visit www.meridianlink.com
About CRIF Lending Solutions
CRIF Lending Solutions combines innovative technology, services and consulting to enable clients to be leaders in the financial services industry. This is achieved with knowledgeable and passionate people, strong partner cooperation and, above all, long-term interactive client relationships. CRIF Lending Solutions is a part of CRIF International, the leading global company specializing in the development and management of decision support systems.