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