Stone-Goff Partners has made an investment in Somerville-based Massachusetts-based Danforth Advisors LLC, a provider of outsourced finance, accounting, and strategic services to life science and healthcare companies. No financial terms were disclosed.
Boston, MA | 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.