MCLEAN, Va., Oct. 3, 2013 /PRNewswire/ -- Gladstone
Capital Corporation (NASDAQ: GLAD) ("Gladstone Capital") announces
today that on October 1, 2013, it
invested $7.0 million in a
combination of debt and equity to purchase Alloy Die Casting Co
("ADC"). Gladstone Capital's affiliated company, Gladstone
Investment Corporation (NASDAQ: GAIN) ("Gladstone Investment")
participated as a co-investor by providing $16.3 million of debt and equity financing on the
same terms as Gladstone Capital 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 Capital 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 Capital's affiliated
investment adviser.
Gladstone Capital Corporation is a publicly traded business
development company that invests in debt and equity securities,
consisting primarily of senior term loans, second term lien loans,
and senior subordinated term loans in small and medium sized
businesses in the United States. The Company has paid 120
consecutive monthly cash distributions on its common stock. Before
the Company started paying monthly distributions, the Company paid
eight consecutive quarterly cash distributions on its common stock.
Information on the business activities of all the Gladstone funds 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 the Company'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 Capital's filings with the Securities and
Exchange Commission. Gladstone Capital 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 Capital Corporation