Gladstone Investment Corporation Invests $16.5 million in Frontier
Packaging, Inc.
MCLEAN, Va., Dec. 5, 2012
/PRNewswire/ -- Gladstone Investment Corporation (NASDAQ:
GAIN) ("Gladstone Investment" or the "Company") announced today
that on Friday, November 30, 2012, it
invested $16.5 million through a
combination of debt and equity in Frontier Packaging, Inc.
("Frontier"). Gladstone Investment, together with certain
members of Frontier's executive management team, provided the
capital to purchase the business from its previous owners.
Frontier, founded in 1985, is headquartered in Seattle, Washington. As a supplier of a range
of time sensitive packaging materials to the Alaskan seafood
market, Frontier adds value through its expertise in product
consolidation and logistics.
(Logo:
http://photos.prnewswire.com/prnh/20101005/GLADSTONEINVESTMENT
)
"Gladstone Investment is excited about partnering with this
talented and experienced management team. Frontier has an
impressive track record of high customer satisfaction and we look
forward to supporting management as they continue to build on that
track record," said Dave Dullum,
President of 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. The Company has paid 89 consecutive
monthly cash distributions on its common stock, in addition to a
bonus dividend paid on its common stock in March 2012. Information on the business
activities of all the Gladstone
funds 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 Frontier and
its management team, and the ability of Frontier to grow and expand
are "forward-looking statements." These forward-looking statements
inherently involve certain risks and uncertainties, although they
are based on the Company's current plans that are believed to be
reasonable as of the date of this press release. Factors that may
cause the Company's actual results to differ from these
forward-looking statements include, among others, the duration and
effects of current economic instability, the Company's ability to
access debt and equity capital and those factors listed under the
caption "Risk Factors" in the Company's registration statement on
Form N-2 (No. 333-181879, as amended (the "Prospectus")) and
the supplement to the Prospectus as filed with the SEC on
October 2, 2012. The risk factors set
forth in the Prospectus and the supplement thereto under the
caption "Risk Factors" are specifically incorporated by reference
into this press release. The Company undertakes no obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
SOURCE Gladstone Investment Corporation