Gladstone Capital Corporation Invests in Unified Communications Business
MCLEAN, Va., Feb. 24, 2017 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (NASDAQ:GLAD) ("Gladstone Capital") announced that it has completed a $29 million senior secured debt investment in support of Spire Capital’s merger of one of its portfolio companies, NetFortris Corp., with Fonality Inc. ("NetFortris").
Headquartered in Seattle, NetFortris delivers cloud communications solutions that enable people to work, collaborate, and deliver customer service where and when business calls.
"Spire Capital is a proven financial sponsor devoted to operational excellence and we are excited to partner with them on this important transaction. The merger of NetFortris and Fonality establishes a unique combination of service capabilities, proprietary technology and management talent," said Mike McQuigg, a Managing Director of Gladstone Capital.
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 companies 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 NetFortris and its management team, and the ability of NetFortris 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.
For further information: Gladstone Capital Corporation, 703-287-5893
Released February 24, 2017