Gladstone Investment Corporation Sells Its Investment in Acme Cryogenics, Inc.
April 28 2016 - 11:46AM
Gladstone Investment Corporation (NASDAQ:GAIN) (“Gladstone
Investment”) announced today the sale of its equity interest and
the prepayment of its debt investments in Acme Cryogenics, Inc.
(“Acme”) on April 22, 2016, to a private equity firm, Graham
Partners. As a result of this transaction, Gladstone Investment
realized a significant capital gain on its equity investment.
“With the sale of Acme and since June 2010, Gladstone Investment
has exited seven of its management supported buy-outs and realized
significant capital gains on the equity portion of these
investments. The realization of these capital gains are in keeping
with Gladstone Investment’s strategy and capability as a buyout
fund and our investment approach of realizing gains on equity while
generating strong current income during the investment period,”
said David Dullum, president of Gladstone Investment.
Acme, headquartered in Allentown, PA, is the leading designer
and manufacturer of a full suite of critically engineered products
and services for the production, distribution and storage of
cryogenic liquids and industrial gases.
“Gladstone Investment has greatly enjoyed our partnership with
Brant Point Partners and the Acme management team over the life of
our investment. The management team has achieved outstanding
results in growing and transforming the business over the last
several years. We wish them success with their new owner, Graham
Partners,” said Blair Gertmenian, a Director (Private Equity) of
Gladstone Investment’s investment adviser.
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 distribution-paying Gladstone family of funds,
please visit www.gladstone.com.
Forward-looking Statements:
The statements in this press release regarding
the longer-term prospects of Acme and its management team, and the
ability of Acme to be successful in the future 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 beliefs 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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