MCLEAN, Va., Aug. 13, 2013 /PRNewswire/ -- Gladstone
Investment Corporation (NASDAQ: GAIN) ("Gladstone Investment")
announced today that on August 8,
2013, it invested debt and the majority of the equity
required to conduct the buyout of Schylling, Inc. ("Schylling"), a
premier provider of high quality specialty toys. Gladstone
Investment partnered with Crofton Capital LLC (www.croftoncap.com),
industry executive Frank O'Connell,
and the Schylling management team, in support of the acquisition
from the sellers.
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Schylling, founded in 1975 and based in Rowley, MA, designs its own proprietary line
of toys, designs toys for other brands under license agreements,
and acts as a distributor for other toy brands by leveraging its
unique distribution channel.
"Gladstone Investment is excited about partnering with Crofton,
Frank, and the talented and experienced management team at
Schylling. We look forward to the continued growth of the business
and building on the success that this management team has already
achieved," said Kyle Largent,
Managing Director at 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. Gladstone Investment has paid 97
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 Schylling and its management team, and the
ability of Schylling 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 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