Gladstone buys Alloy Die Casting for $16.3 mln

Gladstone Investment Corp. has acquired Alloy Die Casting for $16.3 million. To support the buy, Gladstone Capital Corp. was a co-investor, providing $7 million in debt and equity financing. Headquartered in Buena Park, Calif., ADC is a maker of aluminum and zinc castings for aerospace, defense, aftermarket automotive and industrial applications.

PRESS RELEASE

MCLEAN, Va., Oct. 3, 2013 /PRNewswire/ — Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announces 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.
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.