Gladstone Investment Corporation Exits its Investment in Nth Degree
December 11 2019 - 4:30PM
Gladstone Investment Corporation (Nasdaq: GAIN) (“Gladstone
Investment”) announced today the sale of its portfolio company Nth
Degree, Inc. (“Nth Degree”) to MSouth Equity Partners, an
Atlanta-based private equity firm. As a result of this transaction,
Gladstone Investment realized a significant capital gain on its
equity investment and retained a minority equity investment in Nth
Degree. Gladstone Investment acquired Nth Degree in partnership
with Capitala Finance Corp. (Nasdaq: CPTA) and Nth Degree’s
management team in 2015.
Nth Degree, headquartered in Duluth, GA, is a market-leading
provider of exhibit management services and event services to
clients across the globe.
“Gladstone Investment has enjoyed a strong partnership with Nth
Degree’s management team over the last several years. We are proud
to have supported the business through a period of rapid growth,
both organically and through acquisition,” said Kyle Largent,
Senior Managing Director of Gladstone Investment. “The entire
Nth Degree management team has achieved outstanding results in
growing the business and we wish them continued success.”
“With the sale of Nth Degree and from inception in 2005,
Gladstone Investment has exited 20 of its management supported
buy-outs, generating significant net realized gains on these
investments in the aggregate,” said David Dullum, President of
Gladstone Investment. “Our strategy as a buyout fund, realizing
gains on equity, while also generating strong current income during
the investment period from debt investments alongside our equity
investments, provides meaningful value to shareholders through
stock appreciation and dividend growth.”
Gladstone Investment Corporation is a publicly traded business
development company that seeks to make secured debt and equity
investments in lower middle market private businesses in the United
States in connection with acquisitions, changes in control and
recapitalizations. Additional information can be found at
www.gladstoneinvestment.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 Gladstone Investment and Nth Degree and its management
team, and the ability of Gladstone Investment and Nth Degree 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 update
or revise these forward-looking statements whether as a result of
new information, future events or otherwise, except as required by
law.
SOURCE: Gladstone Investment Corporation
For further information: Gladstone Investment Corporation,
703-287-5810
Gladstone Investment (NASDAQ:GAIN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gladstone Investment (NASDAQ:GAIN)
Historical Stock Chart
From Apr 2023 to Apr 2024