Technology
CHEQ Has Been Acquired by Cantaloupe
Published February 9, 2024
SEATTLE, WASHINGTON – February 9, 2024 – Meridian Capital LLC (“Meridian”), 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 Meridian, 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 Meridian 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”.
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
[email protected]
(206) 224-6155
Kendell Jensen
Sr. Analyst
[email protected]
(425) 420-7270
For more information, please contact:
About Meridian Capital
Meridian Capital LLC is a leading independent middle market M&A advisory firm with locations in Seattle, Salt Lake City, the Bay Area, and Portland. Meridian has served as a trusted advisor to business owners on complex corporate finance, M&A and strategic challenges for over 29 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of financial, transactional, and operational professionals on your side, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace defense & space, food, beverage & agribusiness, business services, consumer, diversified industrials, engineering & construction, building products, technology, and telecommunications. Meridian also offers clients unparalleled cross-border capabilities through its REACH M&A Partners network.
