Stone-Goff Partners Announces Investment in Adar

Stone-Goff’s Second Investment in Fund III is an IT-as-a-Service MSP

BOSTON, January 20, 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, Ill. and has an additional office in Valparaiso, Ind.

“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”.

Stone-Goff Talent Network member, Frank Vitagliano, a career channel IT executive, played an important role in the due diligence process and will be a strategic board member of the Company. Both Adar and Walker Sands, the first portfolio company in Fund III, represent lower middle market B2B services businesses with targeted end-market verticals where Stone-Goff has partnered with company founders to add value for strategic growth and value creation.

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

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 is currently investing from Stone-Goff Partners III, LP. For more information, visit www.stonegoff.com.