Stone-Goff Partners Exits Investment in Danforth Advisors
BOSTON–(BUSINESS WIRE)–Stone-Goff Partners announced today it has exited its investment in Danforth Advisors, LLC (“Danforth”) following a private equity investment in the company by Avesi Partners, LLC.
Based outside of Boston, Danforth is the financial and operational backbone to hundreds of life science companies. Its services span wide-ranging needs, whether short or long term, including strategic advisory, accounting and operational finance support, financial planning and analysis, IPO preparation, post-public SEC compliance, clinical business operations management and strategic and operational human resources.
Drawn to the company’s deep experience base and focus on the growing life sciences end market, Stone-Goff Partners invested in Danforth in 2018, alongside its founding partners.
“The last three years have brought tremendous growth and new opportunities to tackle even more challenges for the life science companies we serve. Stone-Goff played an instrumental role in helping us reach this next exciting chapter,” said Gregg Beloff, co-founder and managing director of Danforth.
During the partnership with Stone-Goff, Danforth developed new service offerings, honed its infrastructure and internal processes with new technology, further invested in quality and people initiatives, and expanded its geographic presence. The company also added executive talent including Chris Connors, CEO, who oversaw transformative growth, including the tripling of revenue.
“Partnering with the founders, Chris and the team of Danforth professionals has been a phenomenal experience,” said Laurens Goff, co-founder of Stone-Goff Partners. “The power of the Danforth brand, the vertical focus and the highest quality talent drove and will continue to drive the growth of the company. We want to thank the founders, Chris and the entire Danforth team for their partnership and dedication.”
“We have had a valuable, collaborative relationship with Stone-Goff and appreciate the guidance and counsel they shared as we’ve scaled the business and prepared for growth ahead,” said Chris Connors, CEO of Danforth.
Clearsight Advisors, Inc. served as the exclusive financial advisor to Danforth. Fredrikson and Byron P.A. served as legal counsel to Danforth.
About Stone-Goff Partners
Stone-Goff Partners is a private equity firm that invests in lower middle market Technology-Driven Service businesses. The companies we invest in combine service offerings with technology and focus on attractive, defined end-markets. Core verticals include: business services, human capital and training, marketing services, consulting services, IT services, consumer services and outsourcing. Stone-Goff invests in founder-owned businesses and corporate carve-outs.
Founded in 2010 by Hannah Stone Craven and Laurens Goff, Stone-Goff leverages the extensive investment, operational and sector-specific experience of its partners and Talent Network to drive value creation within its portfolio companies. For more information about Stone-Goff Partners, please visit www.stonegoff.com.
About Danforth Advisors
Danforth Advisors is the financial and operational backbone to hundreds of life science companies. Its services span wide-ranging needs, whether short or long term, including accounting and operational finance support, capital raising, financial planning and analysis, IPO preparation, post-public SEC compliance, clinical business operations management and strategic and operational human resources. Founded in 2011, Danforth has been a strategic and trusted thought partner to more than 750 life science companies, private and public, across all stages of the corporate life cycle. The company serves clients nationwide from its headquarters in Waltham, Massachusetts and regional bases in New York, Philadelphia and San Francisco. Additional information is available at www.danforthadvisors.com.
Contacts
Jeremy Milner
BackBay Communications
401-862-9422
[email protected]
