| September 17, 2026

Northwest Sponsor Finance Provides Add-On Financing for Associated Graphic’s Acquisition of CGS Imaging

Northwest Sponsor Finance (“NSF”), a Division of Northwest Bank, is pleased to announce its support of Stonehenge Partners (“Stonehenge”) in the acquisition of CGS Imaging, Inc. (“CGS”), a leading provider of large format printing and environmental graphics solutions for its existing platform company, Associated Graphics, Inc. (“AGI”).
AGI is a provider of fleet, vehicle, and retail graphics, production, and installation services. The CGS transaction represents a strategic add-on to AGI, forming a diversified platform offering vehicle wraps, signage, and environmental graphics.
 
“We are excited to continue to execute both our organic and inorganic growth strategy across the graphics and fleet branding industry. The management team at CGS has built a great business and the add-on acquisition will allow the combined platform to expand capabilities and customer relationships,” said Andrew Bohutinsky, Managing Partner of Stonehenge Partners. “The Northwest Sponsor Finance team was very supportive and responsive in their approach and demonstrated speed and strong knowledge of lower middle market financing structures. We appreciated having the opportunity to collaborate and work with them.” 
 
“We are excited to be able to partner with the team at Stonehenge as well as the strong management teams at AGI and CGS,” said Chris Buehler, Vice President of Northwest Sponsor Finance. “The Company offers a value added and differentiated solution for their clients, and we look forward to seeing the platform execute its long-term growth strategy and drive significant value creation.”
 
The transaction underscores NSF’s commitment to supporting sponsor-backed platforms with scalable growth strategies and strong free cash flow profiles.

About Northwest Sponsor Finance

Northwest Sponsor Finance, with offices in Chicago and Columbus, Ohio, provides senior secured cash flow loans to private equity-backed lower middle market companies throughout the United States. Northwest Sponsor Finance offers products that support the acquisition, recapitalization and growth investment efforts of private equity firms operating in the lower middle market and focuses on companies that generate EBITDA between $2 million and $15 million.  Northwest Sponsor Finance is a generalist group concentrating on asset-lite business models in the business and consumer services, consumer products, asset-lite manufacturing, and value-added distribution sectors.

  

About Stonehenge Partners

Stonehenge Partners is an Ohio-based private equity firm that focuses exclusively on the middle  market. Founded in 1999, the group has a long history of partnering with leading entrepreneurs and managers who are focused on building winning teams, accelerating growth, and creating shareholder value. Stonehenge provides flexible capital that meets the needs of all stakeholders, including majority equity, minority equity, debt, and combinations thereof. For more information, visit https://stonehengepartners.com.