DALLAS, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Stone-Goff Partners’ recent investment in Danforth Advisors, LLC (“Danforth”), a leading provider of outsourced finance, accounting and strategic services to the life science and healthcare industry. Capital Southwest provided a revolver, first lien term loan and an equity co-investment. Capital Southwest will act as the sole investor and administrative agent for the credit facility.
“We are pleased to partner with Stone-Goff on its investment in Danforth. Stone-Goff has extensive experience in the business services sector and we believe its strategic and operational acumen will enhance the exceptional management team and consultant base at Danforth. We look forward to supporting Danforth as it accelerates its next phase of growth,” said Douglas Kelley, Managing Director of Capital Southwest. Curtis Harrison, Principal of Capital Southwest said, “The life sciences industry is dynamic and complex. Danforth delivers the high level of strategic and financial sophistication required by its client base and has proven itself capable of guiding a company from inception to exit.”
Founded in 2011 and headquartered in Somerville, Massachusetts, Danforth offers an integrated and scalable “one-stop shop” solution for life science 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. 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.
About Capital Southwest
Capital Southwest Corporation (CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $318 million in net assets as of December 31, 2018. Capital Southwest is a middle market lending firm, focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.
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.
This press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to changes in the markets in which Capital Southwest invests, changes in the financial and lending markets, regulatory changes, tax treatment and general economic and business conditions.
Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2018 and subsequent filings with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer