WRAL Tech Wire

Scale Finance advises Charlotte-based Quaero on $24M sale

Scale Finance, led by managing director Dave Gilroy, provided advisory support for Charlotte-based Quaero Corporation during its recent acquisition by CSG Systems International.

CSG purchased Quaero, a marketing services provider, for $15 million in cash and another $9.5 million in contingency payments.

“Despite tough market conditions, this is the second major sale of a private technology company to a larger Nasdaq-traded company that we have completed in the last 60 days,” Gilroy said.

Gilroy also will work with Quaero through post-closing transaction issues.

"Scale Finance helped us navigate through a sensitive, challenging and very strategic transaction process to achieve a terrific end result for Quaero,” Quaero chief executive officer Naras Eechambadi said. “They helped us manage complex, delicate issues at critical moments in the process. We're thrilled with the value they added, especially given the reasonable fees of their unique model."

Scale Finance provides chief financial officer and controller services. It recently expanded operations in the Triad.

Scale Finance represents more than 30 clients in North Carolina.