Gladstone Investment Corporation Supports Add-on Acquisition for Portfolio Company J.R. Hobbs
15 October 2018 - 11:15PM
Gladstone Investment Corporation (NASDAQ: GAIN) made an additional
investment into its portfolio company J.R. Hobbs Co – Atlanta, LLC
(“J.R. Hobbs”) in order to affect the acquisition of Mai
Mechanical.
Headquartered in Lawrenceville, GA, J.R. Hobbs is a mechanical
solutions company providing design-build HVAC systems and services
for multi-family and commercial properties in the Southeast region
of the United States.
Based in Commerce City, CO, Mai Mechanical is a leading plumbing
and mechanical contractor servicing the Denver market. "We’re
extremely excited to partner with the team at Mai Mechanical," said
Dave Harper, CEO of J.R. Hobbs. "For over 40 years, Mai Mechanical
has serviced its customers with high-quality plumbing and
mechanical solutions. We look forward to preserving Mai
Mechanical’s legacy and building on the growth they’ve achieved
over the past several years." 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 on
the transaction 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.gladstonecompanies.com.
Forward-looking Statements:
The statements in this press release regarding
the longer-term prospects of Gladstone Investment, J.R. Hobbs, and
Mai Mechanical and its management team, and the ability of
Gladstone Investment, J.R. Hobbs, and Mai Mechanical 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,
703-287-5893
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