Point B sells Loft9 stake
Seattle-based management consulting and private equity company Point B said it had exited from Loft9. No financial details were disclosed about the stake sale. Loft9, a professional services company, was established by Point B consultants Mark Birzell and Edward Beals. The Puget Sound Business Journal named Loft9 as one of the "Fastest Growing Private Companies" on Washington's Eastside.
Point B gave initial funding for Loft9 and helped extend its network of clients in Puget Sound. Point B Chief Executive Officer Mike Pongon said, "Point B's strategic investment in Loft9 was innovative in that it included more than just the capital to get the doors open. We leveraged our consulting expertise, track record of success and network of relationships to provide significant value for the team at Loft9 from their start-up stage and beyond."
Pongon added they are pleased that Loft 9 wall already well-positioned to achieve their strategic goals. Loft9 projected revenues reaching up to USD 10 million this year.