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.
"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.
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