Gladstone Investment Corporation Acquires J.R. Hobbs
February 21 2017 - 8:45AM
Gladstone Investment Corporation (NASDAQ:GAIN) (“Gladstone
Investment”) announced today that on February 17, 2017, it
partnered with members of executive management in the buyout of
J.R. Hobbs Co. (“J.R. Hobbs”). Gladstone Investment provided
equity and senior secured debt to complete the transaction.
Headquartered outside of Atlanta, GA, J.R. Hobbs is a
market-leading mechanical solutions company providing design-build
systems and services for commercial and multi-unit buildings in the
Southeast region of the United States. Founded in 1971, J.R. Hobbs
has developed an impressive reputation for quality based on the
integrity of its work, processes, and people.
“J.R. Hobbs has a leading position in its market
based on its commitment to customer service and a high level of
technical expertise. Gladstone Investment is proud to be partnering
with the talented team at J.R. Hobbs, and we look forward to
helping them continue to build on the growth they have achieved
over the past several years,” said Peter Roushdy, Director –
Private Equity of Gladstone Investment’s investment adviser.
Gladstone Investment is a publicly traded business development
company that seeks to make debt and equity investments in lower
middle market businesses in the United States in connection with
acquisitions, changes in control and recapitalizations. Additional
information on the 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 J.R.
Hobbs and its management team, and the ability of J.R. Hobbs 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.
For further information: Gladstone Investment Corporation,
703-287-5893
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