Stone-Goff Partners takes majority stake in Quandary Consultants

Stone-Goff Partners invested in Quandary Consultants in October 2026, with Capital Southwest providing the debt financing. Founders Matt Harrison and Asher Weinberg had built the business since 2016. Quandary advises the operators of energy and infrastructure assets on the environmental rules that govern them. A power station, a gas processing plant or a data centre cannot be built or run without permits, and keeping those permits requires continuous measurement: emissions monitored and reported, discharges sampled, protected species surveyed before ground is broken. Its consultants carry out that work and file the results with federal and state regulators, serving more than 100 clients across the Mountain West, among them oil and gas producers, power generators, renewable developers and data centre operators. The work is not discretionary. An operator that misses a filing or exceeds a limit faces penalties and, in the worst case, the suspension of its permit, which is why spending on compliance continues through downturns when capital projects stop. The rules also differ by state and change with each administration, so the knowledge is local and must be maintained. Demand has been rising on two fronts in the region. Data centres have been built at pace across the Mountain West, each requiring air permits for its backup generators and water assessments for its cooling, and the renewable projects replacing fossil generation need their own environmental approvals before construction can begin. Stone-Goff invested to fund new technical capabilities, hiring, technology and acquisitions, and to extend the firm beyond its home region.