Gladstone Investment Corporation Invests $21.3 Million in Drew Foam Companies
MCLEAN, Va., Aug. 1, 2012 /PRNewswire/ -- Gladstone Investment Corporation (GAIN) ("Gladstone Investment") announced today that on Tuesday, July 31, 2012, it invested $21.3 million through a combination of debt and equity in Drew Foam Companies, Inc. ("Drew Foam" or the "Company"). Gladstone Investment, together with certain members of Drew Foam's executive management team, provided the capital to support the acquisition of the business. Drew Foam is an expanded polystyrene foam molder and fabricator for a variety of applications in construction and packaging.
"Gladstone Investment is excited about partnering with the talented and experienced management team at Drew Foam, led by CEO Bill Givens. We look forward to the continued growth of the business and building on the success of the management team over the past few years," said Dave Dullum, President of Gladstone Investment.
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. The Company has paid 85 consecutive monthly 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.
The statements in this press release regarding the equity return potential resulting from continued growth of the Company, by building on the success and momentum the management team has developed during the past couple years and other such statements are "forward-looking statements." These forward-looking statements inherently involve certain risks and uncertainties, although they are based on Gladstone Investment's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause Gladstone Investment's actual results to differ from these forward-looking statements include, among others, the duration and effects of current economic instability, its ability to access debt and equity capital and those factors listed under the caption "Risk Factors" of its registration statement on Form N-2 (file No. 333-181879), filed with the SEC on June 4, 2012 as amended by pre-effective amendment no. 1 to the registration statement filed with the SEC on July 17, 2012 and declared effective by the SEC on July 26, 2012 (the "Form N-2"). The risk factors set forth in the Form N-2 under the caption "Risk Factors" are specifically incorporated by reference into this press release. Gladstone Investment undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Gladstone Investment Corporation