Gladstone Capital Corporation Invests in Trampoline Park Operator
MCLEAN, Va., Sept. 22, 2015 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (NASDAQ:GLAD) ("Gladstone Capital") announces today that on September 18, 2015, it invested $8.5 million through a combination of first lien debt and equity to support a management buyout of Flight Trampoline Parks ("Flight").
Flight operates trampoline parks located in the eastern United States. Trampoline parks are large family entertainment facilities where jumpers of all ages can participate in active social outings, lively corporate gatherings, intense individual workouts or memorable birthday parties. Flight's numerous accommodations include areas for free jumping, dodgeball and basketball as well as private event space.
"Gladstone Capital is excited to partner with the new Flight management team. We look forward to expanding upon the success experienced to date in the existing parks and opening additional parks in new markets," said Mike McQuigg, a Director – Private Finance of Gladstone Capital.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities, consisting primarily of senior, second lien and senior subordinated term loans in small and medium sized businesses in the United States. Information on the business activities of Gladstone Capital and 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 Flight and its management team, and the ability of Flight 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 the Company'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.
CONTACT: For further information: Gladstone Capital Corporation, 703-287-5893
Released September 22, 2015