Gladstone Capital Corporation Exits its Investment in Alloy Die Casting Corporation
MCLEAN, Va., Aug. 26, 2019 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (NASDAQ: GLAD) (“Gladstone Capital”) announced today the sale of its investment in Alloy Die Casting Corporation (“ADC”), to PWP Growth Equity on August 23, 2019. The transaction resulted in a significant realized gain on Gladstone Capital’s equity investment and full repayment at par of the debt investment including all accrued interest and exit fees. Gladstone Capital invested in ADC in October 2013.
ADC is a leading provider of value-added manufacturing and supply-chain solutions for highly- engineered metal components serving the aerospace, defense, medical, automotive, and industrial markets.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities, consisting primarily of secured first and second lien term loans to lower middle market businesses in the United States. Additional information can be found at www.gladstonecapital.com.
For Investor Relations inquiries related to any of the monthly distribution-paying Gladstone family of funds, please visit www.gladstonecompanies.com.
SOURCE: Gladstone Capital Corporation
For further information: Gladstone Capital Corporation, 703-287-5810
Released August 26, 2019