Direct Investing Team

About Our Team

We don’t just build portfolios
—we build legacies.

With more than two decades of experience, our team has developed and deployed capital solutions tailored to the needs of more than 750 businesses nationwide.

Our team is strategically located across the country near the communities and businesses that we serve.

Meet Our Team

Our team wields 150+ years of collective cross-industry experience. Our success is fueled by teamwork, entrepreneurial spirit, creativity, and flexibility.

All

All
Business Operations
Investment Professional
Leadership

Role at Stonehenge

Underwriting and Portfolio Management

Office Location

Dallas

Previous Key Experience

Wells Fargo
EnvisionRx

Education

Bowling Green State University, BS

Peter Acheampong

Associate

pyacheampong@stonehengecapital.com

(614) 545-7243

Role at Stonehenge

Executive Oversight and Fund Management

Office Location

Baton Rouge

Previous Key Experience

JPMorgan Chase & Co.
Banc One Capital Markets

Education

Louisiana State University, BS

Thomas Adamek

Senior Advisor & Board Member

tjadamek@stonehengecapital.com

(225) 408-3250

Role at Stonehenge

Accounting and Financial Reporting

Office Location

Columbus

Previous Key Experience

Deloitte Audit LLP

Education

Bowling Green State University, BS

Helena Aidoo

Senior Accountant

hoaidoo@stonehengecapital.com

(614) 545-7247

Role at Stonehenge

Loan Servicing

Office Location

Columbus

Previous Key Experience

Red Capital Group
Banc One Capital Markets

Education

Franklin University, BS

John Bennett

Vice President - Loan and Asset Servicing

jfbennett@stonehengecapital.com

(614) 545-7252

Role at Stonehenge

Corporate Leadership and Growth Capital

Office Location

Dallas

Previous Key Experience

Banc One Capital Markets
Bank One
Deloitte Consulting

Education

Kellogg School of Management at Northwestern University, MBA
University of Texas at Austin, BBA

Stephen Bennett

Senior Managing Director

sabennett@stonehengecapital.com

(214) 599-8851

Role at Stonehenge

Corporate Legal

Office Location

Baton Rouge

Previous Key Experience

Gould & Ratner, LLP
Crowell and Owens, LLC

Education

Louisiana State University, BA
Tulane University, JD
Northwestern University, LLM

Joel Boussert

Managing Director and General Counsel

jsboussert@stonehengecapital.com

(225) 408-3253

Role at Stonehenge

Origination, Underwriting and Portfolio Management

Office Location

Columbus

Previous Key Experience

McKinsey & Company
Cardinal Health

Education

The Ohio State University, BS

Jonathan Crawford

Director

jmcrawford@stonehengecapital.com

(614) 545-7245

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

Atlanta

Previous Key Experience

Aprio, LLC
PwC

Education

The Georgia Institute of Technology, BS
Emory University’s Goizueta Business School, MBA

Jon Dangar

Director

jbdangar@stonehengecapital.com

(404) 372-9844

Office Location

Columbus

Previous Key Experience

RockBridge Capital
Banc One Capital Corporation

Education

Bishop Hartley High School

Amy Finn

Office Administration Coordinator

amfinn@stonehengecapital.com

614.246.2411

Role at Stonehenge

Board Member

Office Location

Columbus

Previous Key Experience

Banc One Capital Holdings Corporation
Ernst & Young

Education

Muskingum University, BA
Certified Public Accountant

Barry Gowdy

Board Member

bggowdy@stonehengecapital.com

(614) 246-2475

Role at Stonehenge

Accounting and Financial Reporting

Office Location

Columbus

Previous Key Experience

State of Ohio Auditor’s Office

Education

Ohio University, BS
Certified Public Accountant

Kaleigh Grice

Vice President

kegrice@stonehengecapital.com

(614) 545-7257

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

Dallas

Previous Key Experience

Amegy Bank

Education

University of Oklahoma, BBA
Chartered Financial Analyst

Mitchell Hill

Director

mmhill@stonehengecapital.com

(214) 396-2761

Role at Stonehenge

Special Assets

Office Location

Dallas

Previous Key Experience

Wells Fargo
Bank of America

Education

Southern Methodist University, BBA
University of Texas, MS

David James

Director

dgjames@stonehengecapital.com

(214) 396-2770

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

Columbus

Previous Key Experience

Lancaster Pollard

Education

Case Western Reserve University, BA
The Ohio State University, MBA

Keith Jones

Director

kwjones@stonehengecapital.com

(614) 545-7255

Role at Stonehenge

Accounting and Financial Reporting

Office Location

Columbus

Previous Key Experience

Crowe LLP
Huntington National Bank
Encova Insurance

Education

The Ohio State University, BS
Certified Public Accountant

Jordan Kauffman

Senior Accountant II

jdkauffman@stonehengecapital.com

(614) 545-7254

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

New Haven

Previous Key Experience

Greenwich Investment Management

Education

Sacred Heart University, BS
Sacred Heart University, MS

Dane Krchnavy

Vice President

dekrchnavy@stonehengecapital.com

(212) 265-9384

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

Dallas

Previous Key Experience

Clearspring Capital Group
Bank of America
Citibank

Education

Texas Tech University, BBA

Matt Malone

Director

mjmalone@stonehengecapital.com

(214) 599-8853

Role at Stonehenge

Regulatory, Compliance, Investor Relations & Marketing

Office Location

Columbus

Previous Key Experience

Cardinal Health
Jones Day
Kegler, Brown, Hill & Ritter

Education

Kentucky State University, BA

Rashell Marshall

Manager, Strategic Operations & Compliance

rmarshall@stonehengecapital.com

(614) 545-7259

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

Denver

Previous Key Experience

Bank of America
Capstone Partners
Macquarie Capital

Education

Yale University, BA
Kellogg School of Management, MBA

Stephen McLachlan

Director

scmclachlan@stonehengecapital.com

(720) 882-0081

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Previous Key Experience

New Markets Support Company
Goldman Sachs
Frontenac Company

Education

Princeton University, BA
The University of Chicago, MBA

Irene Mello

Director

ibmello@stonehengecapital.com

(312) 273-9830

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

Dallas

Previous Key Experience

Bank of America

Education

University of Texas at Dallas, BS

Cameron Meshki

Vice President

cameshki@stonehengecapital.com

(214) 396-2766

Role at Stonehenge

Tax and Accounting

Office Location

Columbus

Previous Key Experience

Deloitte Tax, LLP

Education

Ohio State University, BS
Ohio State University, MS
Certified Public Accountant

Alexander Nickel

Senior Accountant

asnickel@stonehengecapital.com

(614) 545-7248

Role at Stonehenge

Underwriting and Portfolio Management

Office Location

Columbus

Previous Key Experience

Lument

Education

University of Notre Dame, BBA

Evan Peabody

Vice President

cepeabody@stonehengecapital.com

(614) 545-3511

Role at Stonehenge

Origination, Underwriting, and Portfolio Management

Office Location

Birmingham

Previous Key Experience

HOPE Enterprise Corporation
JP Morgan
Regions Bank

Education

Morehouse College, BA
Johns Hopkins University, MA

Brandon Pettagrue

Director

bepettagrue@stonehengecapital.com

(205) 732-7125

Role at Stonehenge

Special Assets, Underwriting and Portfolio Management

Office Location

Dallas

Previous Key Experience

Highland Capital Management
SWK Holdings Corporation

Education

University of Texas, BBA
Chartered Financial Analyst

Brett Pope

Director

jbpope@stonehengecapital.com

(469) 744-6916

Role at Stonehenge

Human Resources

Office Location

Columbus

Previous Key Experience

Bank One Capital
Rockbridge Capital

Education

Edison State, ABA

Cathy Rhoades

Director

carhoades@stonehengecapital.com

(614) 246-2541

Role at Stonehenge

Underwriting and Portfolio Management

Office Location

Dallas

Previous Key Experience

AGL Resources
Townsend Frew & Company

Education

University of Virginia, BA
Northwestern University, MBA

Brent Sacha

Managing Director

btsacha@stonehengecapital.com

(214) 599-8852

Role at Stonehenge

Technology

Office Location

Columbus

Previous Key Experience

Bank One Capital
Rockbridge Capital

Education

Franklin University, BA
Franklin University, MBA

Michael Savakinas

Chief Technology Officer

mjsavakinas@stonehengecapital.com

(614) 246-2560

Role at Stonehenge

Accounting and Financial Reporting

Office Location

Columbus

Previous Key Experience

KPMG LLP

Education

The University of Toledo, BS

Thomas Shindler

Senior Accountant II

tjshindler@stonehengecapital.com

(614) 545-3402

Role at Stonehenge

Corporate Leadership, Direct Investments

Office Location

Columbus

Previous Key Experience

Moody’s Investors Service

Education

Amherst College, BA
Stern School of Business, MBA

L’Quentus Thomas

Senior Managing Director

lthomas@stonehengecapital.com

(614) 545-7244

Role at Stonehenge

Underwriting and Portfolio Management

Office Location

Columbus

Previous Key Experience

ISAIC – Industrial Sewing and Innovation Center
City of Burlington, NC

Education

Elon University

Chandler Vaughan

Analyst

cavaughan@stonehengecapital.com

(614) 545-3512

Role at Stonehenge

Accounting and Tax

Office Location

Columbus

Previous Key Experience

Ernst & Young

Education

Miami University, BS
Certified Public Accountant

Matthew Whalen

Managing Director and Chief Financial Officer

mlwhalen@stonehengecapital.com

(614) 545-7241

Role at Stonehenge

Accounting and Financial Reporting

Office Location

Columbus

Previous Key Experience

RSM US LLP

Education

Manchester University, BS
Certified Public Accountant

Eric Wilker

Vice President

etwilker@stonehengecapital.com

(614) 545-3401

Portfolio

Fund: Impact

Industry: Consumer Goods

Location: Salt Lake City, UT

Type: Acquisition Funding

Fund: Impact

Industry: Technology & Health Care

Location: Columbus, Ohio & Central Michigan

Type: Acquisition Financing

Fund: Impact

Industry: Consumer Goods

Location: Winona, Minnesota

Type: Acquisition Financing

Fund: Impact

Industry: Consumer Goods

Location: Salt Lake City, Utah

Type: Acquisition Financing

Fund: Impact

Industry: Energy and Related Services

Location: Louisiana, Connecticut & New Jersey

Type: Growth Capital

Fund: Impact

Industry: Construction

Location: Reno, NV

Type: Acquisition Financing

Fund: Impact

Industry: Services

Location: Boston, Massachusetts

Type: Acquisition Financing and Growth Capital

Fund: Impact

Industry: Consumer Goods

Location: La Grange, KY

Type: Acquisition Financing

Fund: Impact

Industry: Services

Location: Downey, California

Type: Acquisition Financing

Fund: Impact

Industry: Technology

Location: Miami Lakes, FL

Type: Growth Capital and Refinancing

Fund: Impact

Industry: Consumer Goods

Location: Hialeah, Florida

Type: Acquisition Financing

Fund: Impact

Industry: Manufacturing

Location: Detroit, MI

Type: Growth Capital and Refinancing

Fund: Impact

Industry: Manufacturing

Location: West Allis, Wisconsin

Type: Acquisition Financing

Fund: Impact

Industry: Health Care

Location: Omaha, Nebraska

Type: Financing

Fund: Impact

Industry: Manufacturing

Location: Logan, Utah

Type: Acquisition Financing

Fund: State

Industry: Hospitality

Location: Geneva, Ohio

Type: Debt Paydown & Construction Financing

Fund: State

Industry: Manufacturing

Location: Reynoldsburg, Ohio

Type: Acquisition Financing

Fund: State

Industry: Energy and Related Services

Location: Lore City, Ohio

Type: Refinancing & Growth Capital

Fund: State

Industry: Technology

Location: Licking County, Ohio

Type: Refinancing & Growth Capital

Fund: State

Industry: Technology

Location: London, Ohio

Type: Working Capital

Fund: State

Industry: Construction

Location: New Holland, PA & Seville, Ohio

Type: Refinancing & Working Capital

Fund: State

Industry: Hospitality

Location: Dublin, Ohio

Type: Refinancing & Working Capital

Fund: State

Industry: Services

Location: Geneva, Ohio

Type: Refinancing & Working Capital

Fund: State

Industry: Manufacturing

Location: Medina, Ohio

Type: Acquisition Financing & Working Capital

Fund: State

Industry: Services

Location: Bucyrus, Ohio

Type: Debt Paydown and Working Capital

Fund: State

Industry: Consumer Goods

Location: Licking County, Ohio

Type: Growth & Working Capital

Fund: State

Industry: Construction

Location: Baltimore, Ohio

Type: Refinancing & Equipment Purchase

Fund: State

Industry: Manufacturing

Location: Eatonton, Georgia

Type: Refinancing & Working Capital

Fund: State

Industry: Consumer Goods

Location: Homerville, Georgia

Type: Working Capital and Growth

Fund: State

Industry: Construction

Location: Pembroke, Georgia

Type: Working Capital and Growth

Fund: State

Industry: Consumer Goods

Location: New Oxford, Pennsylvania

Type: Acquisition Financing

Fund: State

Industry: Services

Location: Washington, Pennsylvania

Type: Acquisition Financing and Growth Capital

Fund: Impact

Industry: Technology

Location: Leola, Pennsylvania

Type: Refinancing

Fund: Impact

Industry: Services

Location: Exton, Pennsylvania

Type: Acquisition Financing and Growth Capital

Fund: State

Industry: Agriculture

Location: St. Paris, Ohio

Type: Equipment Purchases & Working Capital

Stonehenge Capital specializes in flexible and patient lower-middle market debt and equity investments. Our investments support primarily growth-stage small businesses in underserved areas across the country. Stonehenge Capital plays a critical role in filling the financing gap for operating companies that have struggled to access traditional investment capital.

Investment Criteria

Target investment range of $1 million to $15 million capital need

Flexibility to invest subordinated debt, minority equity, control equity, or any combination

Sole institutional capital provider or co-investment partner

Industries Served

While Stonehenge Capital is not limited to particular industries, we most frequently serve these sectors:

Manufacturing

Distribution

Business Services

Healthcare

Investment Structures

Stonehenge leverages 25 years of expertise in investment structuring and underwriting to offer customized financing solutions for small businesses nationwide. Our unique capital tools enable us to fit seamlessly into any part of a company’s balance sheet- whether it is Senior, Mezzanine, Equity, or Uni-tranche financing to support their growth initiatives.

Case Studies

PosiGen, LLC

Impact Fund

LA, CT & NJ

PosiGen, LLC, founded in 2011, provides renewable energy solutions for Low-to-Moderate Income households, focusing on solar panel installations in six states. Their work significantly impacts underserved communities by making sustainable energy accessible and affordable. Recognized as the Fastest Growing Company in Louisiana and the Fastest Growing Solar Company in America, PosiGen holds an A+ rating from the Better Business Bureau. Stonehenge provided a $7.5 million Senior Loan to support these efforts.

Cathcart Rail, LLC

State Fund

Bucyrus, OH

Cathcart Rail, based in Bucyrus, Ohio, acquired the Bucyrus railcar repair facility in February 2016, expanding their operations. Founded by Casey and Thom Cathcart, the company offers railcar repair, enhancement, and conversion services across several Ohio locations. They operate one of the largest repair facilities in the country, servicing up to 40 cars at once in Bucyrus. Their running repair division spans multiple states, maintaining and repairing railcars for major operators like CSX and Rail USA. Stonehenge provided $5 million in loans.

North Carolina Central University

New Markets Tax Credit

Durham, NC

North Carolina Central University (NCCU), a Historically Black College and University in Durham, NC, is tackling health disparities with two new initiatives: Academic Community Health Centers and a Rural Health Hub. These centers will offer hands-on learning for students and services for the community, while the Rural Health Hub will address chronic diseases in underserved areas. Halifax County, with higher rates of diabetes, cardiovascular disease, and infant mortality, relies heavily on Medicaid, Medicare, and Tricare. Stonehenge provided an $8.5 million loan for this project.

FAQs

What is the Federal New Markets Tax Credit Program (“NMTC”)?

The NMTC Program provides a tax incentive for private sector investments into economic development projects and businesses located in low-income communities.

What is a Small Business Investment Company (“SBIC”)?

An SBIC is a privately owned investment company, regulated by the Small Business Administration, whose mission is to provide debt and equity capital to qualified small businesses nationwide.

How do you define a Low to Moderate Income (“LMI”) Community?

An LMI Community has a household income no more than 80% of the area median income, or poverty rates in excess of 20%, or unemployment greater than 1.5x the national average for the county or area where they reside.

Direct Investing

Intentional Investments
with Measurable Impact

Our Direct Investing practice operates at the nexus of finance and community development through a number of federal, state-targeted economic development and small business programs. Our broad portfolio provides several tools to ensure businesses receive the investment capital that is critical to growth.

Our Tools

NMTC

We operate one of the largest and most successful federal and state New Markets Tax Credit practices in the industry.
We manage over $1.4 billion in investments across U.S. distressed communities.

State Funds

We have over $400 million in Assets Under Management, providing traditional debt and equity financing through state-targeted small business investment funds.

SBIC

We have raised a $224 million fund (Stonehenge Community Impact Fund, L.P.) under the U.S. Small Business Administration's Small Business Investment Company Program providing senior term financing to traditionally underserved businesses across the country.

A Proven Track Record

Transactions closed in 35 states

Number of Jobs Created

$0/hr

Average Wage

“At Stonehenge, we have multiple tools to craft capital solutions for small businesses. Along with prioritizing market segments often underserved by conventional capital providers, we strive to address a unique need in the marketplace. If we do our jobs well, we not only fuel growing small businesses, but help to transform the communities and local economies that they serve. That’s the essence of transformational capital.”

— L'Quentus Thomas, Senior Managing Director

“Building a business is hard work, but it is almost impossible without capital. Stonehenge is proud to have partnered with so many outstanding businesses and enabled their growth with capital they might otherwise not have found. The result has been thousands of new living-wage jobs in low-income communities and areas targeted for economic development across the country, and many industry-leading companies. That is the legacy we strive for every day at Stonehenge.”

— Stephen Bennett, Senior Managing Director

Project Portfolio

Our Portfolio

Our Team

Our expert team works with owners and management teams to address the individual needs of each investment specific to its place in the investment lifecycle.

Meet the Team