Software
CHEQ Has Been Acquired by Cantaloupe
Published February 9, 2024
SEATTLE, WASHINGTON – February 9, 2024 – CLA Meridian Capital (“CLA Meridian Capital”), a leading independent middle market investment bank and M&A advisory firm, is pleased to announce the acquisition of one of its clients, Cheq Lifestyle Technology, Inc., (“CHEQ” or the “Company”) by Cantaloupe, Inc. (“Cantaloupe”).
Founded in 2021, CHEQ powers payments for numerous professional sports teams, entertainment venues, and festival operators, including the Washington Commanders (NFL), Florida Panthers (NHL), Philadelphia Union (MLS), Miami Marlins (MLB), CFG Bank Arena in Baltimore (Oak View Group), and Loud & Live (Festivals). CHEQ technology increases food and beverage sales, speeds up transaction times, and drives new customer traffic and engagement.
Cantaloupe is a global technology leader powering self-service commerce. The transaction will expand Cantaloupe’s addressable market into solutions for sport stadiums, entertainment venues, festivals, hospitality, full-service & fast casual restaurants, and more.
Patrick Ringland, Principal and Managing Director at CLA Meridian Capital, stated “Tom and his team built an amazing product that was welcomed by the market and built a company with an amazing growth trajectory. It was a pleasure to serve as their advisor during this transaction and we are excited to see what they are able to accomplish as a part of Cantaloupe”.
Thomas Lapham, CEO and Co-Founder of CHEQ, said “We are looking forward to joining Cantaloupe and continuing our mission of delighting guests with a best-in-class on-premise payments experience. The CLA Meridian Capital team was instrumental in identifying Cantaloupe as a strategic buyer with tremendous synergy and acted as a leader throughout the transaction process.”
Ravi Venkatesan, CEO of Cantaloupe, Inc., said “The acquisition of CHEQ expands Cantaloupe’s addressable market into a new and rapidly growing sector. We are excited to welcome the CHEQ team to the Cantaloupe family”.
CLA Meridian Capital served as the exclusive financial advisor to CHEQ on the transaction, and Latham & Watkins served as legal counsel. Perella Weinberg Partners served as financial advisor to Cantaloupe, and King & Spalding served as Cantaloupe’s legal counsel.
For additional information, please contact one of the members of the transaction team:
Patrick Ringland
Principal & Managing Director
pringland@meridianib.com
(206) 224-6155
Kendell Jensen
Sr. Analyst
kjensen@meridianib.com
(425) 420-7270
For more information, please contact:
About CLA Meridian Capital
CLA Meridian Capital is the investment banking division of CliftonLarsonAllen (CLA) Wealth Advisors, LLC, an SEC registered investment advisor and broker dealer, member FINRA/SIPC. With 30+ years of middle-market M&A and financial advisory experience, $22 billion in total transaction value, and deep industry knowledge across the Consumer, Industrials, and Technology sectors, CLA Meridian Capital helps our clients preserve the value they’ve built and the legacies they leave behind.
