For many years, Phoenix has enjoyed an extraordinary relationship with the Watermill Group. During that time we have come to genuinely appreciate their ability to grasp complex operating, financial and transactional business dynamics that truly set them apart in the marketplace. Whether serving as the transaction advisor to Watermill or as the investment banker selling a business to Watermill, Phoenix has always recognized that their approach to negotiations was nothing but transparent and honorable. They are one of the class acts of the middle market private equity marketplace and would not hesitate to recommend them in the future. — Jim Fleet, Senior Managing Director and Shareholder, Phoenix Management Services, LLC