Gladstone Investment Corporation Invests in Counsel Press Inc.
April 01 2015 - 9:22AM
Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone
Investment") announced today that on March 31, 2015, it invested an
aggregate of $32.5 million in a combination of equity and debt to
acquire Counsel Press Inc. ("Counsel Press") from The Dolan Company
in conjunction with Counsel Press' existing management team.
Since 1938, Counsel Press has assisted attorneys in all 50
states with expert assistance in preparing, filing, and serving
appeals in state and federal appellate courts nationwide and
several international tribunals through its experienced staff of
attorneys, appellate consultants and appellate paralegals. Counsel
Press' operations include fully staffed offices in 12 locations
nationwide and production centers in 6 locations.
"We are impressed with Counsel Press' excellent reputation as
the premier appellate services provider. We are looking forward to
building on its history of organic growth, new product
introductions and acquisitions in regional markets," said Erika
Highland, a Director at Gladstone Management Corporation, Gladstone
Investment's affiliated investment adviser.
"Counsel Press has long been a strong contributor for The Dolan
Company, but this divestiture allows us to focus on the growth of
our strategic businesses," said Mark McEachen, The Dolan Company's
CEO. "We believe that Gladstone and management can continue to grow
the business and continue to provide the excellent service that
Counsel Press is known for."
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. 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 Counsel Press and its management team, and the ability
of Counsel Press 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.
CONTACT: Gladstone Investment Corporation, 703-287-5893
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