MCLEAN, Va., March 5, 2014 /PRNewswire/ -- Gladstone Capital
Corporation (NASDAQ: GLAD) ("Gladstone Capital") announced today
that on February 28, 2014, it
participated in the majority recapitalization of Edge Adhesives
Holdings, Inc. ("Edge") from Superior Capital Partners.
Gladstone Capital completed this transaction together with its
affiliate, Gladstone Investment Corporation (NASDAQ: GAIN), as well
as with Akoya Capital LLC ("Akoya"), and certain members of the
executive management team. In addition to the equity capital
necessary for the transaction, Gladstone Capital and Gladstone
Investment also provided the debt financing.
Headquartered in Fort Worth,
TX, Edge is a leading developer and manufacturer of
innovative adhesives, sealants, tapes and related solutions used in
building products, transportation, electrical and HVAC, among other
markets. Edge satisfies customer requirements under brands
such as Edge, PARR, PTI, Rubex, and PLIOSEAL, as well as through
its private label relationships with leading brands where Edge is a
leader in GREEN technologies.
Mr. Peter Kotz, Managing Director
of Gladstone Investment and Gladstone Capital stated, "Edge
represents a strong fit for Gladstone, and we are excited by the prospect
of partnering with an industry veteran in Dave Burger (CEO), management and employees to
continue to build upon Edge's innovative product offering. A
collective partnership with Akoya, which brings specialty chemicals
expertise, also allows us to accelerate the growth in the business
and continue to deliver value-added solutions to its blue-chip
customer base."
Mr. Dave Burger, CEO of Edge
stated, "We are excited by this next phase for Edge and the
opportunity to partner with Gladstone and Akoya. This partnership
will provide increased value for our customers and employees, and
further position the business to deliver superior solutions within
end-markets that demand high quality and innovative
solutions. I appreciate the support from Superior Capital
Partners and look forward to continuing to build upon the success
at Edge with our new partners."
Gladstone Capital Corporation is a publicly traded business
development company that invests in debt and equity securities,
consisting primarily of senior terms loans, second term lien loans,
and senior subordinated terms loans in small and medium sized
businesses in the United States in
connection. Gladstone Capital has paid 125 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. 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 Edge Adhesives and its management team,
and the ability of Edge Adhesives 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 Capital'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.
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SOURCE Gladstone Capital Corporation