MCLEAN, Va., Oct. 3, 2013 /PRNewswire/ -- Gladstone
Investment Corporation (NASDAQ: GAIN) ("Gladstone Investment")
announces today that on October 1,
2013, it invested $16.3
million in a combination of debt and equity to purchase
Alloy Die Casting Co. ("ADC"). Gladstone Investment's affiliated
company, Gladstone Capital Corporation (NASDAQ: GLAD) participated
as a co-investor by providing $7.0
million of debt and equity financing on the same terms as
Gladstone Investment in support of the acquisition.
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Founded in 1946 and headquartered in Buena Park, CA, ADC is a manufacturer of high
quality, finished aluminum and zinc castings for aerospace,
defense, aftermarket automotive and industrial applications. ADC
provides its customers with engineering support and custom tool
design and fabrication as well as in-house machining and finishing
capabilities.
"Gladstone Investment is excited to partner with ADC's talented
and experienced management team. We look forward to the
continued growth of the business and building upon the success of
the management team over the past few years," said Greg Bowie, a Director, Private Finance, of
Gladstone Management Corporation, Gladstone Investment's affiliated
investment adviser.
Gladstone Investment Corporation is a publicly traded business
development company that seeks to make debt and equity investments
in small and mid-sized businesses in the
United States in connection with acquisitions, changes in
control and recapitalizations. Gladstone Investment has paid 99
consecutive monthly cash distributions on its common stock.
Additional information on this transaction can be found at
www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds,
please visit www.gladstone.com.
Forward-looking Statements:
The statements in this press release regarding the
longer-term prospects of ADC and its management team, and the
ability of ADC to grow and expand are "forward-looking statements."
These forward-looking statements inherently involve certain risks
and uncertainties in predicting future results and conditions.
Although these statements are based on Gladstone Investment's
current plans that are believed to be reasonable as of the date of
this press release, a number of factors could cause actual results
and conditions to differ materially from these forward-looking
statements, including those factors described from time to time in
Gladstone Investment's filings with the Securities
and Exchange Commission. Gladstone Investment undertakes no
obligation to publicly release the result of any
revisions to these forward looking statements
that may be made to reflect any future events or
otherwise, except as required by law.
SOURCE Gladstone Investment Corporation
