MCLEAN, Va., March 5, 2014 /PRNewswire/ -- Gladstone Capital Corporation (NASDAQ: GLAD) ("Gladstone Capital") announced today that on February 28, 2014, it participated in the majority recapitalization of Edge Adhesives Holdings, Inc. ("Edge") from Superior Capital Partners. Gladstone Capital completed this transaction together with its affiliate, Gladstone Investment Corporation (NASDAQ: GAIN), as well as with Akoya Capital LLC ("Akoya"), and certain members of the executive management team. In addition to the equity capital necessary for the transaction, Gladstone Capital and Gladstone Investment also provided the debt financing.
Headquartered in Fort Worth, TX, Edge is a leading developer and manufacturer of innovative adhesives, sealants, tapes and related solutions used in building products, transportation, electrical and HVAC, among other markets. Edge satisfies customer requirements under brands such as Edge, PARR, PTI, Rubex, and PLIOSEAL, as well as through its private label relationships with leading brands where Edge is a leader in GREEN technologies.
Mr. Peter Kotz, Managing Director of Gladstone Investment and Gladstone Capital stated, "Edge represents a strong fit for Gladstone, and we are excited by the prospect of partnering with an industry veteran in Dave Burger (CEO), management and employees to continue to build upon Edge's innovative product offering. A collective partnership with Akoya, which brings specialty chemicals expertise, also allows us to accelerate the growth in the business and continue to deliver value-added solutions to its blue-chip customer base."
Mr. Dave Burger, CEO of Edge stated, "We are excited by this next phase for Edge and the opportunity to partner with Gladstone and Akoya. This partnership will provide increased value for our customers and employees, and further position the business to deliver superior solutions within end-markets that demand high quality and innovative solutions. I appreciate the support from Superior Capital Partners and look forward to continuing to build upon the success at Edge with our new partners."
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities, consisting primarily of senior terms loans, second term lien loans, and senior subordinated terms loans in small and medium sized businesses in the United States in connection. Gladstone Capital has paid 125 consecutive monthly cash distributions on its common stock. Before the Company started paying monthly distributions, the Company paid eight consecutive quarterly cash distributions on its common stock. Additional information on this 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.
The statements in this press release regarding the longer-term prospects of Edge Adhesives and its management team, and the ability of Edge Adhesives 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 Capital'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 Capital's filings with the Securities and Exchange Commission. Gladstone Capital 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.
SOURCE Gladstone Capital Corporation