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New York, NY – March 3, 2020– Stone-Goff Partners announced today it has sold NAS Recruitment Innovation (“NAS”) to M3 USA, a leader in healthcare digital solutions for hospitals, health systems, and physicians.

NAS is a leader in recruitment advertising, marketing, and digital services, offering a proprietary technology platform, ACTIVATE™, which enhances candidate engagement, maximizes SEO, and offers robust analytics for clients. In 2019, the ACTIVATE platform provided a superior experience to more than 25 million candidates in their job searches. NAS also provides Media Services including employment branding, programmatic buying, social outreach, and digital marketing. The Company is based in Cleveland, Ohio and serves hundreds of clients throughout the U.S. and Canada across a variety of industries, including healthcare and hospitality.

In December 2011, Stone-Goff Partners acquired NAS from Interpublic Group (IPG). Under Stone-Goff’s ownership, led by CEO Phil Ridolfi and Chief Talent Strategist Matt Adam, NAS has shifted from a traditional media services model to an end-to-end digital offering with the development of the ACTIVATE platform. NAS empowers clients to attract and engage quality talent with proven expertise in technology solutions, media buying, and creative services.

"Working with Phil, Matt, and the NAS team as we transformed the company from a legacy business model to a hybrid services, strategy and SAAS-based business model has been an incredible journey. This transaction is a result of the team’s hard work, vision and leadership in the recruitment marketing space," said Hannah Stone Craven, co-founder of Stone-Goff Partners. "We are excited about the strategic fit between NAS and M3, and believe the combined company will continue to lead in innovation and performance in the recruitment marketing space."

M3 Inc., parent company of M3 USA, operates in the U.S., Asia, and Europe, providing services to healthcare and the life science industries, including market research, medical education, ethical drug promotion, clinical research, job recruitment, and clinic appointment services.

Leonis Partners acted as exclusive financial advisor to NAS in this transaction. Fredrikson and Byron P.A. served as legal counsel to NAS.

About Stone-Goff Partners

Stone-Goff Partners is a private equity firm that invests in lower middle-market founder-owned businesses and corporate carve-outs in the following verticals: Human Capital & Training, B2B Services and Consumer Services. Founded in 2010 by Hannah Stone Craven and Laurens Goff, the firm leverages the extensive investment, operational and strategic experience of its principals and its Talent Network members to serve as a value-added partner for management teams, portfolio companies, and limited partners.

Waltham, MA – February 13, 2020– Danforth Advisors, LLC ("Danforth"), the leading provider of outsourced finance, accounting, and strategic services to life science and healthcare companies, today announced the appointment of Sarah Dekin and Stephen Hoffman to the Board of Directors. Sarah is currently the Chief Operating Officer of Hometap Equity Partners and serves as an Independent Board Director for current Stone-Goff portfolio company The Greene Turtle. Steve is an industry veteran in life sciences and pharmaceuticals and most recently served as the Chief Executive Officer for Aerpio Pharmaceuticals.

Steve brings to Danforth significant experience as an executive, director, and investor in life sciences companies. During his tenure as CEO of Aerpio, he led the company through its transition from the OTC exchange to NASDAQ and raised more than $50 million in an oversubscribed follow-on offering. Prior to Aerpio, Steve served as a Senior Advisor to PDL Biopharma and was previously a Managing Director at Skyline Ventures and General Partner of TVM Capital. Steve has also held many board positions across a variety of life sciences companies and currently serves on Board of Directors for Dicerna Pharmaceuticals, AcelRx Pharmaceuticals, and Palleon Pharmaceuticals.

Sarah is an experienced executive with a deep history of driving growth through product, business model, and marketing opportunities. Prior to Hometap, Sarah served a Chief Marketing Officer for Virgin Money, Zipcar, and House of Blues Entertainment. She began her career as consultant at Bain & Company and is a graduate of Harvard Business School. In addition to her Director role at The Greene Turtle, Sarah has served as a Strategy & Growth Advisor for several companies including Locu, Envoy Global, and TrueMotion.

"We are excited to welcome Sarah and Steve to the Board of Directors," said Danforth Co-Founder and Managing Director, Gregg Beloff. "Steve's deep history in the life sciences industry and Sarah's experience scaling businesses provides an ideal mix as we look to continue building the leading strategic partner for life sciences companies."

About Danforth Advisors

Danforth offers an integrated and scalable "one-stop shop" solution for life sciences companies for all operations from controller through CFO performing activities ranging from accounting and operational finance services, to financial planning and analysis, M&A, and IPO readiness. The Company has served as a strategic and trusted thought partner to over 300 clients across all stages of a company's life cycle, from inception to exit. Danforth employs a deep team of consultants who are experienced finance and accounting professionals with a background in life sciences. In addition to core finance services, Danforth recently added Clinical Outsourcing Management and Risk/Compliance services to help customers address their needs as their businesses grow. The Company is headquartered in Waltham, MA with additional offices in New York, Pennsylvania, Colorado, and Texas.

Boston, MA – January 22, 2020– Stone-Goff Partners (“SGP”) announced that it has made an investment in Adar Inc. (“Adar”), a leading provider of outsourced IT-as-a-Service (“ITaaS”) to small and medium-sized businesses (“SMBs”). The investment will support the Company’s growth initiatives, including the expansion of the sales and marketing organization and the rollout of a new Azure-based offering.

Founded in 2005, Adar utilizes leading technologies to deliver comprehensive, seamlessly-integrated IT environments. The Company has a best-in-class virtual desktop interface (“VDI”) offering for customers, delivering a unique, cloud-based IT environment that includes all software applications, security, infrastructure, support, and managed services in a per-user, per-month package. Adar targets organizations with 25 to 500 users where technology requirements are critical to their operations and currently serves approximately 200 customers across the United States. The Company is headquartered in Skokie, IL and has an additional office in Valparaiso, IN.

“The Adar team has a long history of being an integral partner for its clients in solving their complex IT needs,” said Vadim Vladimirskiy, founder of Adar. “We look forward to continue providing excellent solutions and service to our customers in partnership with Stone-Goff.”

“We are thrilled to partner with the Adar team and work closely with them as they continue to deliver extraordinary value to their customers,” said Laurens Goff, co-founder of Stone-Goff Partners. “Adar has built a leading IT services platform over the past fifteen years and we are excited to join them in their next stage of growth.”

“We have built a foundation on great technology solutions and excellent support services which is a testament to our team at Adar,” said Adar General Manager, John Mario. “We are excited to explore the many opportunities for growth with Stone-Goff”.

Stifel, Nicolaus & Company served as the exclusive financial advisor to Adar. Legal counsel for Adar was provided by Rich May, P.C. Legal counsel for Stone-Goff was provided by Fredrikson & Byron, P.A. Five Points Capital provided debt financing for the transaction.

About Stone-Goff Partners

For more information about Stone-Goff, please visit www.stonegoff.com.

Columbia, MD – December 4, 2019– Stone-Goff Portfolio Company CEO brings his innovation and passion for hospitality to the second largest restaurant chain in Baltimore.

The Greene Turtle (“GT”), a mainstay in the Baltimore community for the last 45 years, is excited to announce that its newly-hired CEO, Geo Concepcion, has been honored as a member of Baltimore’s “40 Under 40” Class of 2019. Geo joined The Greene Turtle as CEO earlier this year after spending three years as Chief Operating Officer of Famous Dave's (NASDAQ:DAVE; 180 locations). Under Geo's leadership, Famous Dave's same-store sales at company-owned stores grew for eight consecutive quarters, online ordering and third-party delivery grew meaningfully, a brand refresh resulted in double-digit boosts in store traffic and comp sales, speed of service increased, three new prototypes were launched and a team was assembled to support franchisees.

The Greene Turtle's Board is confident Concepcion is building a clear and steady path to growth and success. “We are very excited about how The Greene Turtle can benefit from Geo's insights and experience,” the Board said. “His track record will prove incredibly valuable.”

“I think hospitality comes with many different elements, and pulling together those elements so that they are operating in harmony presents an exciting challenge for any problem solver like myself,” said Geo. “GT is a brand that has enjoyed widespread recognition and allegiance across generations of families, friends and sports fans for more than 40 years, providing a great foundation to build on. I think I speak for our staff and franchisees in saying that we're excited to continue to provide memorable experiences to our guests in the Baltimore area and beyond.”

About The Greene Turtle

The Greene Turtle (“The Turtle”) is a community hangout born in 1976 on the boardwalk in Ocean City, Md., and built on a love for local sports. Today The Turtle has grown to 44 locations in Maryland, Delaware, New Jersey, New York, Pennsylvania, Virginia and West Virginia. The Turtle's menu features fresh local ingredients and fresh-caught crab dishes authentic to Maryland shores. The Turtle's friendly staff serves craft beers and specialty cocktails in a casual atmosphere along with a robust multimedia system for guests to enjoy their favorite sporting events. The Turtle is a popular year-round destination where families, friends and fans of all ages feel at home.

For more information on The Greene Turtle, please visit thegreeneturtle.com.

In January 2019, The Turtle once again earned a spot on Entrepreneur's prestigious “Franchise 500” list. The Turtle also appeared on the Franchise Times “Top 200+” list in October 2018 and was named among “12 High-Performing Restaurant Chains to Watch” by FSR Magazine (March 2018).

About Stone-Goff Partners

Greenbelt, MD – November 6, 2019– JSI, the leading national provider of regulatory, compliance, and management consulting services to Communications Carriers ("Carriers"), today announced the appointment of Nick Gaubinger to the Board of Directors. Nick is currently the VP of Corporate Strategy and Development at PowerAdvocate, a Verisk Analytics Company, where he focuses on leading the integration of PowerAdvocate into Verisk Analytics' business, after playing a key role in the successful sale of PowerAdovcate to Verisk. Verisk is a multi-billion-dollar company that provides data analytics and risk assessment services.

Prior to the acquisition by Verisk, Nick opened PowerAdvocate's first international office in Calgary, Alberta, where he was responsible for strategic planning and execution of market entry and the market's growth strategy. With a focus on supporting the profitable growth of all PowerAdvocate product lines across the power generation, transmission, and oil and gas verticals, Nick built, maintained and managed senior relationships across several of PowerAdvocate's marquee customers. We are excited to partner with Nick as JSI looks to prioritize several exciting growth opportunities including new service offerings and expanding its customer base.

“With knowledge derived from supporting hundreds of Carriers and alternative communications providers, we have built a team and range of services to meet our clients' needs in an expert, cost-efficient way,” said Manny Staurulakis, President of JSI. “By bringing Nick's perspective onto the Board, we hope to identify new ways to deliver additional value – both in new customer development and with new service programs designed to help our clients achieve their goals.”

“Communications service providers – like many other utility companies I have worked with over the years – face a unique set of challenges driven by significant regulatory complexities and JSI offers the expertise necessary for its clients to operate their businesses with the peace-of-mind that they're adhering to the constantly changing regulatory environment and enhancing their long term viability,” said Nick. “JSI's remarkable 55+ year operating history is just the beginning and I look forward to collaborating with Manny, Leo and the rest of the JSI Board on identifying new and continued ways to grow the business.”

About JSI

JSI is the leading national provider of regulatory, compliance, and management consulting services to Communications Carriers (“Carriers”) with an experienced management team and a talented bench of 150+ consultants. Founded in 1962, JSI is a long-time trusted advisor to more than 400 Carriers who are continuously seeking ways to improve their business models and maximize third-party support in providing broadband and voice services to rural communities across the U.S. The company is headquartered in Greenbelt, MD with additional offices in Minneapolis, MN, Austin, TX and Atlanta, GA. Additional information is available at www.jsitel.com.

About Stone-Goff Partners

Boston, – October 23, 2019– Stone-Goff Partners, a lower middle-market private equity firm, is excited to announce and welcome Patti Warnetski as Chief Financial Officer. Based in the Boston office, Patti will oversee all aspects of finance, tax, compliance, and operations of the management company, facilitate and coordinate correspondence with investors, and ensure compliance with fund guidelines and regulatory requirements.

Prior to joining Stone-Goff, Patti spent seventeen years at Guggenheim Partners in a similar role for the real estate private equity funds group. At Guggenheim, she played an integral role on the finance team, creating and implementing policies related to financial and performance reporting, partnership allocations, cash management, and compliance and helped establish and manage the back-office outsourcing of fund administration, audit and tax preparation, while helping to grow and develop the finance team. Patti began her career as an auditor at KPMG, where she spent four years in the investment management practice. Patti holds a bachelor's degree from Babson College and is a Certified Public Accountant in Massachusetts.

“We are excited to welcome Patti to the Stone-Goff team,” said Laurens Goff, co-founder of Stone-Goff Partners. “Her deep finance and accounting experience will have a significant positive impact on our team and investors.”

About Stone-Goff Partners

Stone-Goff Partners is a private equity firm that invests in lower middle-market founder-owned businesses and corporate carve-outs in the following sectors: Human Capital & Training, B2B Services and Consumer Services. Founded in 2010 by Hannah Stone Craven and Laurens Goff, the firm leverages the extensive investment, operational and strategic experience of its principals and its Talent Network members to serve as a value-added partner for management teams, portfolio companies, and limited partners. Stone-Goff Partners is currently investing from Stone-Goff Partners III, LP.

New York, NY – September 23, 2019– Stone-Goff Partners ("SGP") announced today that it has invested in Walker Sands (“Walker Sands”), a marketing agency focused on accelerating the growth of B2B brands. The investment will fuel further growth for Walker Sands, including new service offerings, new offices and potential acquisitions.

From strategy to execution, Walker Sands offers tailored solutions to drive real business results for its B2B clients. Core capabilities include public relations, demand generation, branding, creative, marketing strategy, and web.

The company is a seven-time member of the Inc. 5000 list of fastest-growing companies and has received numerous workplace culture awards, including top agency to work for (Holmes Report), a best place to work in Chicago (Crain’s Chicago Business) and No. 3 workplace for women (Crain’s Chicago Business). Walker Sands was founded in 2001 and is headquartered in Chicago, with additional offices in San Francisco and Seattle.

"We are thrilled to partner with Mike, Ken, Ellen and the team at Walker Sands and join them on their vision to build the world’s top agency for B2B companies," said Hannah Stone Craven, co-founder of Stone-Goff Partners. "Walker Sands has an impressive company culture and a proven history of delivering outstanding results for clients, and we look forward to joining them in this next phase of growth."

"Partnering with Stone-Goff will allow us to expand on the strong foundation we have built and continue to raise the bar for our clients and our employees." said Mike Santoro, president of Walker Sands. "I am so proud of the agency we’ve built and excited for what’s to come."

PALAZZO served as the exclusive financial advisor to Walker Sands in this transaction. Legal counsel for Walker Sands was provided by Aronberg Goldgehn. Legal counsel for Stone-Goff was provided by Fredrikson & Byron, P.A. TCF Capital Funding provided senior debt financing for the transaction.

About Stone-Goff Partners

Boston, MA – September 12, 2019– We are excited to announce that The Channel Co. has been named one of Boston’s Best and Brightest Companies to Work For…for the second year in a row! This national program celebrates companies that are making better businesses, creating richer lives and building a stronger community as a whole.

The Best and Brightest Companies to Work For® competition identifies and honors organizations that display a commitment to excellence in their human resource practices and employee enrichment. Organizations are assessed based on categories such as communication, work-life balance, employee education, diversity, recognition, retention and more.

TCC’s diverse, committed organization works hard to deliver maximum value to the technology suppliers, solution providers and IT professionals who rely on the Company each and every day. The Company defines its core values, which provide a clear view into the Company, how they work and the high standards that they set for themselves including integrity, innovation, commitment, respect and community. “We pride ourselves on providing as much value as possible to our clients and rely on our people and our culture to make it happen,” said Bob Skelley, CEO of TCC. The Company’s unequalled experience, insights and expertise make them the channel catalyst—accelerating clients’ channel initiatives, driving meaningful change and delivering exceptional results.

About The Channel Co.

The Channel Co. is the leading full-service channel enablement platform within the IT market, combining proprietary marketing and data solutions with the industry’s most recognized media portfolio and branded events. TCC’s marketing services optimizes MDFs extended from IT vendors to their channel partners through outsourced campaign design and management, media mix allocation and multichannel marketing execution; the Company also maintains subscription-based data and research, derived from proprietary channel data and sales intelligence; TCC’s integration of the industry’s most highly trafficked media and events creates an unmatched, sustainable value proposition. To learn more about TCC and their comprehensive solutions, visit www.thechannelco.com.

About Stone-Goff Partners

With offices in New York and Boston, Stone-Goff Partners is a private equity investment firm that acquires and builds companies in the lower middle market. Founded in 2010, the firm leverages the extensive investment, strategic and operational experience of its principals in the consumer and business services sectors to serve as a value-added partner for its management teams, portfolio companies and limited partners. For more information about Stone-Goff, please visit www.stonegoff.com.

Waltham, MA – July 26, 2019– Danforth Advisors Appoints Christopher Connors as Company’s First President

Danforth Advisors, LLC, the life science industry's leading resource for operational accounting, finance support, CFO services and strategic advisory, today announced the appointment of Christopher Connors to the newly created position of President. In this role, Chris will lead Danforth's internal operations team and oversee the growth and expansion of the company and its service offerings.

“With knowledge derived from supporting hundreds of life science companies, we have built a team and range of services to meet our clients' needs in an expert, cost-efficient way,” said Gregg Beloff, Co-founder and Managing Director, Danforth Advisors. “With Chris on board, we are preparing to deliver additional value – both in new geographies and with new service programs designed to help our clients achieve their goals.”

“Life science companies face a unique set of challenges, whether in the start-up phase or commercially operating, and Danforth offers the insight and capabilities to navigate wide-ranging scenarios,” said Chris. “With the availability of new services and talent, our clients can leverage an even greater range of skill-sets precisely as needed – avoiding the fixed costs of building these capabilities in house. I look forward to putting these high-quality programs in place, delivered by industry-best talent.”

Prior to joining Danforth, Chris spent nearly 15 years in senior leadership positions at Vistaprint, where he was instrumental to the company's growth from start-up operations to achieving over $1 billion in revenue. Among his responsibilities, he led the strategic direction and roll-out of new customer support services, as well as the infrastructure design and personnel needs required for their operation. He most recently served as the company's Senior Vice President of Technology and Transformation, overseeing all aspects of software development and people operations. Prior to joining Vistaprint, Chris spent seven years as a senior technical consultant at Envisa and Accenture. He holds a Bachelor of Science in Management Information Systems from Babson College.

About Danforth Advisors

Danforth is the financial backbone to hundreds of life science companies, providing integrated and scalable consulting teams ranging from staff accountant through CFO. The company's services span the full breadth of a finance organization's needs, whether short or long term, including accounting and operational finance support, capital raising, financial planning and analysis, IPO preparation and post-public SEC compliance. Founded in 2011, Danforth has been a strategic and trusted thought partner to more than 400 life science companies, private and public, across all stages of the corporate life cycle. The company is headquartered in Waltham, Massachusetts with additional operations in the emerging life science clusters of metropolitan New York, Philadelphia, Pittsburgh, Colorado and Texas. Additional information is available a www.danforthadvisors.com.

About Stone-Goff Partners

Little Rock, AR – April 25, 2019– Training Industry has announced that DSG, the leading Sales Enablement Agency, was named to the 2019 Training Industry Top 20 list of Sales Training companies. Training Industry is the leading research and information resource for corporate learning leaders. They prepare the Training Industry Top 20 reports on critical sectors of the training marketplace to better inform professionals about the best and most innovative providers of training services and technologies.

Selection to the 2019 Training Industry Top 20 Sales Training Companies List was based on the following criteria:

Thought leadership and influence on the sales training sector
Breadth and quality of sales training topics and competencies
Company size and growth potential Industry recognition and innovation
Strength of clients and geographic reach

DSG offers an integrated sales enablement approach that includes sales message creation, sales process design, sales coaching system development, in-person and virtual training delivery and “continuous learning” post-launch. “We pride ourselves in delivering customized sales training programs that are focused on providing as much value to our clients as possible,” said Matt McClendon, president of DSG. The company creates and delivers training that incorporates company-specific content, engages participants through experiential learning and video, and reinforces change through sales manager coaching.”

“The companies on this year’s Sales Training Top 20 list are leaders in the sales training sector,” said Danielle Draewell, market research analyst at Training Industry, Inc. “DSG has added new functions to its sales training web app, including video-enabled coaching, which supports practice delivery and manager feedback; team competition, which incorporates manager-issued challenges and leaderboards; and training mastery, which incorporates peer best practices and new approaches.”

About DSG

DSG partners with organizations to create customized sales enablement solutions that turn growth strategies into sales results. Sales and marketing executives retain DSG to develop client-specific sales tools and content, build sales playbooks, produce sales education videos and much more. DSG has over 25 years of experience helping clients that are looking to onboard new reps faster, launch new products, sell integrated solutions, or transform their sales strategies. With a customer-first approach, DSG is your Sales Enablement Agency. To learn more about DSG and their sales enablement solutions, visit www.dsgconsulting.com

About Stone-Goff Partners

West Bridgewater, MA – May 22, 2019– Centerline Communications LLC (“Centerline”) announced that it has completed the recapitalization of Notora, LLC (“Notora”).

Notora is a radio frequency (“RF”) engineering firm based in Atlanta, GA that specializes in the RF Engineering services required to successfully assess, design, test and turn-up Distributed Antenna (“DAS”) and Small Cell systems.

Notora will maintain its brand and the Executive Team, including Founder and CEO David Hartin, will continue to operate and execute the day-to-day strategy. This partnership further strengthens the capabilities of the Centerline platform within the rapidly growing in-building and small cell space to provide comprehensive services that are value add propositions to its customers.

Josh Delman, founder and CEO of Centerline, stated “Notora has built a phenomenal reputation and gained a great deal of momentum in the industry. We look forward to supporting Notora in expanding their services.”

Centerline completed an equity recapitalization in August 2017 whereby Stone-Goff Partners and Wincove Private Holdings, LP became meaningful equity owners of the business, alongside Mr. Delman. The shareholders subsequently completed the recapitalization of Tower Resource Management, LLC, a provider of telecommunications infrastructure services, in March 2018. Centerline continues to seek further strategic acquisitions.

The shareholders of Centerline also operate an affiliated tower development business, TowerNorth Development LLC, which is also considering acquisition opportunities.

About Centerline Communications, LLC

Centerline provides turnkey wireless telecommunications infrastructure services to carriers, equipment suppliers, and tower operators. Services include project management and real estate services, outsourced maintenance services for HVAC and generator units at wireless sites, and general construction services including installation and equipment modification. Centerline provides services across the U.S., with a particularly strong presence in the Northeast and Mid-Atlantic markets. For more information about Centerline, please visit www.centerlinecommunications.com.

About Stone-Goff Partners

New York, NY – December 20, 2018– Stone-Goff Partners ("SGP") announced today that it has invested in Danforth Advisors, LLC ("Danforth"), a leading provider of outsourced finance, accounting, and strategic services to life science and healthcare companies. The investment will support the Company’s growth initiatives of expanding service offerings, building out the consultant team, geographic expansion into new life sciences clusters, and opportunistic acquisitions of complementary outsourced service providers in the life sciences industry.

Founded in 2011, Danforth offers an integrated and scalable "one-stop shop" solution for life sciences companies for all operations from controller through CFO performing activities ranging from accounting and operational finance services, to financial planning and analysis, M&A, and IPO readiness. The Company has served as a strategic and trusted thought partner to over 300 clients across all stages of a company’s life cycle, from inception to exit. Danforth employs a deep team of consultants who are experienced finance and accounting professionals, including CFOs, Big 4 public accounting alumni, corporate controllers, start-up accountants and subject matter experts such as financial planning & analysis specialists. The Company is headquartered in Somerville, MA with additional offices in New York, Pennsylvania, Colorado, and Texas.

"We are excited to partner with the Stone-Goff team as we approach the next phase of growth," said Danforth Co-Founder and Managing Director, Gregg Beloff. "We are proud of the Danforth team and the company that we have built over the past 8 years and look forward to bring our differentiated and unique offerings to new markets and clients."

"Danforth’s success has been a testament to the people on our team and the great clients that we work on a daily basis," said Danforth Co-Founder and Managing Director, Dan Geffken. "We get to work with companies that are performing life changing research and development and we look forward to building with them in the future."

"The Danforth team has built a market leader providing strategic services to life sciences companies," said Laurens Goff, co-founder of Stone-Goff Partners. "We are excited to partner with Dan, Gregg, and the entire Danforth organization as they enter the next phase of growth."

G2 Capital Advisors served as the exclusive financial advisor to Danforth in this transaction. Capital Southwest provided debt financing and an equity co-investment. Legal counsel was provided by Burns & Levinson LLP and Fredrikson & Byron P.A. for Danforth and Stone-Goff, respectively.

About Stone-Goff Partners

New York, NY – October 23, 2018– Stone-Goff Partners (SGP) announced today that it has invested in John Staurulakis, Inc. ("JSI"). Founded in 1962 and headquartered in Greenbelt, MD, with two additional major offices in Minneapolis and Austin, JSI is the leading national provider of regulatory and compliance consulting services to over 400 telecommunications providers in rural communities across the U.S. With over 100 employees and decades of experience serving their market, JSI's deep knowledge of the telecom industry and rural broadband markets is a key differentiator benefiting its longstanding client base. In addition to being the dominant provider of regulatory and compliance services to Incumbent Local Exchange Carriers ("ILECs"), JSI also provides financial, business management and executive management training services to its client base.

"We are proud of the JSI team and the company we have built together," said JSI President, Manny Staurulakis. "Going forward, JSI is thrilled to partner with Stone-Goff Partners as we enter our next phase of growth while also maintaining the Company’s legacy as being an advocate for telecommunications providers and the rural communities they serve."

"JSI has numerous opportunities to expand our business and we look forward to pursuing them with Stone-Goff as partners," said JSI's EVP, Leo Staurulakis.

"We are excited to partner with Manny, Leo and their team who will continue leading and building the Company," said Laurens Goff, co-founder of Stone-Goff Partners. "JSI is a differentiated, mission-critical service provider with an experienced team and longstanding history of delivering high quality service with measurable success to its customers. The Company's depth of talent and expertise within the telecom regulatory landscape, and culture of growth underscores JSI’s exceptional potential."

FOCUS Investment Banking served as the exclusive financial advisor to JSI in this transaction. Texas Capital Bank provided senior debt financing and Five Points Capital and RGA Private Debt & Equity provided mezzanine financing and equity co-investment.

About JSI

Founded in 1962 and headquartered in Greenbelt, MD, with two additional major offices in Minneapolis and Austin, JSI is the leading national provider of regulatory and compliance consulting services to over 400 telecommunications providers in rural communities across the U.S. With over 100 employees and decades of experience serving their market, JSI's deep knowledge of the telecom industry and rural broadband markets is a key differentiator benefiting its longstanding client base. In addition to being the dominant provider of regulatory and compliance services to Incumbent Local Exchange Carriers ("ILECs"), JSI also provides financial, business management and executive management training services to its client base. For more information about JSI, please visit www.jsitel.com.

About Stone-Goff Partners

Raynham, MA – March 22, 2018– Centerline Communications, LLC ("Centerline" or the "Company") announced today that it has acquired Tower Resource Management, LLC ("TRM").

Headquartered in Foxboro, MA with additional offices in Hanover, MD and Hudson, NH, TRM is a provider of telecommunications infrastructure services in New England and the Baltimore-Washington region. Its service offerings include site acquisition, line & antenna construction, small cell and DAS deployments, electrical services and fiber networking.

The transaction further diversifies Centerline’s service offering, and is consistent with its strategy to be a true turnkey service provider to the telecommunications industry. The addition of TRM will enable Centerline to better serve its customers through an expanded geographic reach and deepened technical expertise. TRM President Sean Carr will join the Centerline senior management team.

Josh Delman, founder and CEO of Centerline, stated "we are excited to welcome TRM to the Centerline team, and are thrilled about the many benefits that this transaction and combined services platform will provide to our customers and employees."

Centerline completed an equity recapitalization in August 2017 whereby Wincove Private Holdings, LP and Stone-Goff Partners became meaningful equity owners of the business, alongside Mr. Delman. Centerline continues to aggressively seek strategic acquisitions.

The companies did not disclose financial terms.

The shareholders of Centerline also operate an affiliated tower development business, TowerNorth Development LLC, which is also considering acquisition opportunities.

About Centerline Communications, LLC

About Stone-Goff Partners

About Wincove Private Holdings, LP

Wincove Private Holdings is an investment holding company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs and management teams to build market-leading companies. With offices in Boston and NY, Wincove has a permanent capital base, and can therefore stay invested in its partner companies for an unlimited time horizon. For more information about Wincove, please visit www.wincove.com.

New York, NY – December 5, 2017– Stone-Goff Partners (SGP) announced today that it has invested in DSG, a leading provider of outsourced sales training and enablement services to Fortune 500 and middle market companies in North America and Europe. The investment will support several new initiatives in terms of building out the executive team, new marketing initiatives and opportunistic acquisitions of complementary products or services.

Founded in 1994, DSG enables salesforces to implement their company’s growth strategy through customized sales enablement programs. Solution offerings include sales message creation, sales process design, sales coaching system development, in-person and virtual training and ongoing reinforcement and content updates post-launch. The Company serves a diverse, blue-chip customer base across six core verticals including Technology, Business Services, Healthcare, Manufacturing, Telecommunications and Financial Services.

“We are proud of the DSG team and the company we have built together," said DSG President, Matt McClendon. “Going forward, DSG is thrilled to partner with Stone-Goff Partners as we enter our next phase of growth. After vetting numerous potential partners, DSG selected Stone-Goff for their partnership approach and their proven track record helping technology-enabled professional services firms maximize their growth potential," McClendon noted.

“DSG needed a partner that not only understood the business, but could bring expertise on how to accelerate the expansion of both our team and our solutions as we seek to continue delighting our growing customer base," said DSG VP of Sales & Marketing, Tanner Mezel.

“We are excited to partner with Matt, Tanner and their team who will continue leading and building the Company," said Hannah Stone Craven, co-founder of Stone-Goff Partners. “DSG is a differentiated, outsourced sales training and enablement service provider with a talented team and longstanding history of delivering high quality service with measurable success to its customers. The Company’s depth of talent and expertise within the sales enablement market and culture of growth underscores DSG’s exceptional potential."

CHILDS Advisory Partners served as the exclusive financial advisor to DSG in this transaction. East West Bank provided senior debt financing and Avante Mezzanine Partners provided mezzanine financing and equity co-investment.

About Stone-Goff Partners

With offices in New York and Boston, Stone-Goff Partners is a private equity investment firm that invests in lower middle-market founder-owned businesses and corporate carve-outs in the business services and consumer sectors. Founded in 2010 by Hannah Stone Craven and Laurens Goff, the firm leverages the extensive investment, strategic and operational experience of its principals to serve as a value-added partner for management teams, portfolio companies, and limited partners. Stone-Goff Partners is currently investing from Stone-Goff Partners II, LP. For more information, visit www.stonegoff.com.

Boston, MA – August 18, 2017– Wincove Private Holdings, LP (“Wincove") and Stone-Goff Partners (“Stone-Goff") announced today that they have invested in affiliated companies, Centerline Communications, LLC (“Centerline") and TowerNorth Development, LLC (“TowerNorth" and together with Centerline, “the Company").

Headquartered in Raynham, MA, Centerline provides turnkey wireless telecommunications infrastructure services to carriers, equipment suppliers, and tower operators. Services include project management and real estate services, outsourced maintenance services for HVAC and generator units at wireless sites, and general construction services including installation and equipment modification. Centerline provides services across the U.S., with a particularly strong presence in the Northeast and Mid-Atlantic markets. TowerNorth Development, an affiliated entity, is a telecommunications tower development company.

“We are excited to partner with Josh Delman, who will continue in his leadership as CEO and remain a large owner of the Company," said Michael McGovern, partner of Wincove. “The Wincove, Stone-Goff and Centerline principals all have a longstanding relationship with each other spanning many years, and we are excited to consummate this business partnership. Centerline is recognized by its customers for its ability to deliver turnkey, high value-added services, and we believe there is great opportunity to continue to build out the complimentary TowerNorth business."

“Josh Delman has built an impressive platform in the telecommunications services industry, and we look forward to partnering with him and his team," said Laurens Goff, Managing Partner of Stone-Goff. “We are thrilled about the opportunity to support Josh in the continued growth of Centerline and TowerNorth."

Josh Delman, CEO of Centerline stated, “Centerline is excited to partner with Wincove and Stone-Goff as we take the next step toward growing our Company’s reach. We are confident that Wincove’s and Stone-Goff’s experience and track record of building businesses will help fuel our continued growth." For more information about the Company, please visit www.centerlinecommunications.com.

About Wincove Private Holdings, LP

About Stone-Goff Partners

New York, NY – December 7, 2016– Stone-Goff Partners (SGP) announced today that it has invested in The Channel Company (TCC), the leading provider of IT channel-related media, events and other marketing solutions to the IT Channel. The investment will support several new initiatives in terms of growth in research, data, managed marketing services as well as opportunistic acquisitions of competitively-positioned industry participants.

Founded in 1982, Boston-based TCC is an IT channel-focused B2B marketing platform enabling technology companies to target and reach their channel partners. The company’s deep management team currently leads more than 100 employees focused on servicing its blue-chip customer base of over 400 technology companies and channel partners. TCC leverages its primary media outlet, www.crn.com, and its proprietary database with the largest and most accurate set of data regarding channel relationships in North America, to provide comprehensive IT channel marketing services.

Today, IT industry executives estimate that 70%+ of all technology sold into the corporate enterprise market in the Americas is facilitated by an IT channel partner. Through its media offerings, live events, consulting, proprietary research and managed marketing services, TCC helps its customers optimize their channel marketing strategy and drive new revenue through the indirect sales channel.

“We are thrilled to have found what we believe is a great partner in Stone-Goff," said TCC CEO Robert Faletra. “We are growing so fast we had the luxury of looking for a partner that not only understands the business, but is clear in understanding how we can accelerate the buildout of our offerings and delight our customers," Faletra noted.

“We are excited to partner with Bob and his team to enhance TCC’s fast growing service offerings through leveraging the Company’s dominant brand and proprietary database," said Hannah Stone Craven, co-founder of Stone-Goff Partners. “The company’s depth of talent and expertise within the IT channel and culture of growth underscores TCC’s continued potential."

CHILDS Advisory Partners served as the exclusive financial advisor to The Channel Company in this transaction. Citizens Bank, N.A. provided senior debt financing and Northstar Capital provided mezzanine financing and equity co-investment.

New York, NY – September 14, 2016– Stone-Goff Partners (SGP) announced today that it has sold Learners Edge to L Squared Capital Partners, a private equity firm based in Newport Beach, CA specializing in education investments.

Based in Lakeville, Minn., Learners Edge is a leading direct-to-teacher provider of online professional development, continuing education and master’s degree programs for K-12 teachers. Founded in 2002 by two middle-school geography teachers, the company was established with the mission to help teachers advance their classroom skills and careers, while also improving student learning. Co-founders Joe Cotter and Kyle Pederson started with innovative distance-learning courses, enabling teachers to secure their education and training whenever and wherever they preferred. As the distancelearning model transitioned online, they invested heavily in an online platform that could deliver full course curriculum. Learners Edge is now the largest online direct-to-teacher continuing education provider in the U.S.

In 2013, Stone-Goff Partners invested alongside the company’s co-founders. With enhanced focus on reaching more teachers and developing proprietary online content, the business continued its rapid growth trajectory.

“The Learners Edge team – led by CEO Joe Cotter – developed a clear, mission-driven approach for the development and dissemination of continuing education for teachers. Our successful exit is a testament to the value created by the management team since our investment and demonstrates the company’s strength in helping on-the-ground teachers improve classroom instruction and student learning," said Hannah Craven, co-founder of Stone-Goff Partners. “As the company’s first outside investor, we are honored to have been able to partner with Joe, Kyle, Julie Yaeger, Jenny Oelkers, Mark Hrubes and the entire Learners Edge team. We wish them and their new investment partners the very best as they continue to deliver high-value professional education to teachers around the country."

George K. Baum Capital Advisors acted as exclusive financial advisor to Learners Edge in this transaction. Avante Mezzanine Partners provided debt and equity co-investment. Fredrikson and Byron P.A. served as legal counsel to Learners Edge.

New York, NY – October 27, 2015– Stone-Goff Partners (“SGP") announced the closing of Stone-Goff Partners Fund II, L.P., (“Fund II") a private equity fund focused on investments in businesses within the consumer and services verticals. Fund II will continue its predecessor’s successful lower middlemarket private equity investment strategy, generally investing between $6 million and $20 million in equity per transaction.

Following the initial closing, SGP is pleased to be in a position to deploy capital in attractive new opportunities, explained co-founder and partner, Hannah Stone Craven. “We are thrilled to announce another milestone in the evolution of SGP and honored by the reception we have received from new and existing investors." The closing ../includes anchor investor Carl Marks & Co. as well as other investment groups from the U.S. and around the globe.

Leveraging a network of industry operating advisors, the Stone-Goff investment team has extensive investment experience, working closely with the management teams of its portfolio companies to enhance value. Stone-Goff Partners was founded in 2010 by Hannah Stone Craven and Laurens Goff, who bring decades of combined experience as private equity investors and strategic partners to lower middle-market companies. Collectively, the founders have invested more than $200 million of capital into more than 30 companies in the lower middle market.

The firm recently announced its first Fund II investment, The Greene Turtle Sports Bar & Grille, a 41-unit, sports-themed casual dining restaurant chain based in Maryland with units stretching from Virginia to New York. “We continue to identify and invest in companies with a great track record of stable, profitable growth," said co-founder and partner Laurens Goff, “and we look forward to announcing additional investments in the near term."

New York, NY – October 21, 2015– Stone-Goff Partners (“SGP") announced today that it has acquired a controlling interest in The Greene Turtle Sports Bar & Grille, a family-friendly casual dining restaurant and dynamic sports bar with 41 company-owned and franchised locations across the Mid-Atlantic, Northeast and Appalachian regions of the United States. Terms were not announced.

Founded in 1976, “The Turtle" began as a Maryland institution and has since expanded to Delaware, Virginia, the District of Columbia, West Virginia and New York’s Long Island. The Greene Turtle currently has signed development agreements for franchise expansion in Pennsylvania, New Jersey, New York, Virginia and Maryland. Stone-Goff has partnered with the management team, including CEO/President Bob Barry, to accelerate the growth of the business. In 2015, The Greene Turtle has already opened four new locations; two additional locations are expected to open during the remainder of 2015.

“The Greene Turtle is a tremendous brand that represents great food in a sports-themed atmosphere," said Laurens Goff of Stone-Goff Partners. “We are thrilled to partner with Bob Barry, his team, and Greene Turtle’s fantastic group of franchise partners to continue the chain’s growth throughout the Eastern United States."

The Greene Turtle has more than doubled in size over the past several years and has signed several multi-unit development deals for new and existing markets. Barry said the support of its new owners will serve to further invigorate the chain’s operations and expansion efforts.

“This is both a great opportunity for us and a strong testimony to the incredible potential and increasing value of our organization," he said. “Stone-Goff and its principals have worked closely with us in recent months to gain an understanding and appreciation of what makes The Greene Turtle so special. We look forward to continuing our growth and evolution under their ownership.

Raymond James & Associates advised the sellers on the transaction. Arrowpoint Partners provided financing to SGP.

New York, NY – February 2, 2015– Stone-Goff Partners announced today that it has sold its equity stake in Thymes, a leading bath, body and home fragrance brand, to a private equity consortium which included consumer-focused private equity firm Castanea Partners.

Originally founded in 1982 and headquartered in Minneapolis, Minnesota, Thymes creates highly curated fragrance collections with product lines that include body and hand lotions, bar soaps and bubble baths, candles, fragrance mists, potpourris, reed diffusers, and refresher oils. Thymes is seen as a premium and innovative brand that has a unique consumer appeal. The company is also home to one of the most recognizable and proven home fragrances, Frasier Fir. Thymes products are sold in over 5,000 specialty retail locations in the United States. Thymes is led by CEO Anne Sempowski Ward.

"To be associated with such a powerful brand was a privilege," said Laurens Goff of Stone-Goff Partners. “We will truly miss working with Anne and her team and we are confident they will continue to grow and thrive with their extraordinary new partners."

"It has been a pleasure working with Stone-Goff in growing Thymes," said Anne Sempowski Ward. “Their experience in supporting and building middle market companies has been essential to our success. We are well positioned for the future thanks to their early commitment and belief in the Thymes brand."

Terms of the transaction were not disclosed.

New York, NY – October 23, 2013– Stone-Goff Partners announced today that it has made an investment in Learner's Edge, a leading provider of continuing education courses and degree programs to K-12 teachers.

Based in Minneapolis, MN, Learner's Edge was founded in 2002 by two middle-school teachers, Joe Cotter and Kyle Pederson, who were convinced that there was a better way to provide continuing education courses that would lead to improved classroom instruction and student learning. Joe Cotter, CEO of Learner's Edge, continues to lead the company and shape its next stage of growth.

Since that time, Learner's Edge has helped tens of thousands of teachers grow their knowledge base, enhance their classroom instruction techniques, and increase student achievement by providing high quality, classroom-applicable professional development. Learner's Edge helps teachers by providing high-quality content and degree-eligible credits at an affordable price available online, anytime. Learner's Edge partners with academic partners such as Augustana College, Colorado State University-Pueblo, North Dakota State University, Marygrove College, Pacific-Lutheran University and Lourdes University to provide degree-eligible credits to teachers. In addition, Learner's Edge has partnered with Augustana College to provide a fully online masters of education degree program. Learner's Edge currently offers 80 relevant courses through its continuing education and affiliated masters programs.

New York, NY – January 6, 2012– Stone-Goff Partners announced today that is has acquired NAS Recruitment Communications from Interpublic Group. The transaction was completed in partnership with NAS' senior management team.

Based in Cleveland, Ohio, NAS is a leading marketing services agency specializing in media buying, human resources marketing and communications, and employment branding. NAS serves over 2,000 clients out of its 19 sales offices and Cleveland headquarters, including brands such as Toyota, Hyatt, US Cellular, Supervalu, Wendy's, Providence Healthcare, and the Children's Hospital Boston. Drawing on an understanding of relevant media channels, NAS designs successful engagement strategies for its clients' hiring needs.

As media channels proliferate, NAS helps employers address an increasingly complex landscape for locating, attracting, and developing talent, said Hannah Stone Craven, Partner at Stone-Goff Partners. NAS' longstanding client relationships and the team's ability to help their clients navigate a complex media and recruiting environment provide a meaningful opportunity to accelerate growth."

NAS Chairman Jim Miller noted, "With the ownership and strategic direction of our agency now in the hands of management and private equity partners, we will be even better positioned in the marketplace. Interpublic has been a great owner and partner over the last decade, however, under this new structure, NAS will be more nimble and better able to adapt to a constantly evolving set of dynamics in our space."

Laurens Goff, Partner of Stone-Goff added, "The opportunity to acquire NAS is an excellent match for Stone-Goff's strategy of investing in strong niche businesses with established track records and experienced management teams. We believe the opportunity to work with this team on new product development and strategic initiatives will deliver significant growth and value-creation."

CEO James Miller and Senior Vice Presidents Patty Van Leer and Matthew Adams, along with other key management members, will remain with the company in their current roles. Senior debt financing for the transaction was provided by First National Bank of Pennsylvania. MESA (Media and Entertainment Strategy Advisors) advised the seller. This transaction represents the third portfolio acquisition for Stone-Goff Partners.

New York, NY – October 1, 2010– The principals of Stone-Goff Partners, LLC, Hannah Stone Craven and Laurens Goff are pleased to announce the formation of a new private equity partnership – Stone-Goff Partners LLC. This partnership represents the combination of two predecessor partnerships – Ayr Capital Management and Goff Management.

Stone-Goff Partners LLC will continue its mission of making investments in lower middle market companies ($2-$20 million in EBITDA). The partnership is backed by equity sources including family offices, financial institutions, and high net worth individuals.

Stone-Goff's principals both have deep backgrounds in private equity. Craven was most recently a partner with Sandler Capital Management, a private equity firm specializing in media/information investing that managed funds in excess of $1.5 billion. Goff was formerly a principal at Hampshire Equity Partners where he focused on investments in the consumer, retail and services sector.

For more information, visit www.stonegoff.com