Teamwork, Partnership, Dedication

Gladstone Capital provides loans to lower-middle market businesses. Below are several representative portfolio companies. For a full listing, please refer to our periodic reports filed on Forms 10-Q and 10-K.




Antenna Research Associates, Inc.

ARA designs and manufactures radio frequency based antenna sub-systems and integrated antenna systems for military and commercial customers. The Company partners with defense contractors and commercial companies who place these antenna systems on vehicles, ships, and aircraft, or use them in various other applications like commercial weather radars and communications.

Arc Drilling, LLC

Headquartered in Cleveland, Ohio Arc Drilling is a leading provider of electrical discharge machining services to the industrial gas turbine and aerospace markets, handling over 200,000 parts annually.

AXIOS Industrial Group

Provider of scaffolding, insulation, coatings, surface preparation and specialty solutions for a broad range of industrial customers in support of turnaround, maintenance and capital projects across the U.S.

B+T Group Acquisition, Inc.

B+T Group is a leading national provider of engineering and field services to the wireless telecom industry. Serving wireless tower owners and wireless carriers, B+T provides its clients with best-in-class service and turnkey solutions contributing to efficient and successful operations.

Café Zupas

Café Zupas is a healthy fast casual restaurant brand that serves house-made soups, salads and sandwiches from over 200 fresh ingredients. Store locations can be found in Utah, Arizona, Nevada, Idaho, Illinois, Minnesota, Wisconsin, and Ohio.

Charter Management Company operates charter schools that partner with district schools to better serve at-risk high school students.

Cordant Health Solutions

Cordant provides toxicology testing and tech-enabled laboratory monitoring services to the government and behavioral health sector. The Company is staffed by highly trained scientists and technicians who use the latest technology to provide accurate and reliable test results with rapid turnaround time.

Defiance Integrated Technologies, Inc.

Defiance is a manufacturer specializing in heavy gauge metal stampings and valued added processes.  Its core product is an axle nut and washer system for the heavy (Class 8) truck industry.

The Company is a franchiser of commercially focused disaster remediation and restoration services across the United States.

Edge Adhesives Holdings, LLC

Edge Adhesivesis 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.

Eegee's LLC

Eegee’s is a growing chain of quick service sandwich restaurants with locations throughout Arizona.

Encore Dredging Partners, LLC

Encore Dredging Partners is a premier mid-sized cutter suction and mechanical dredging services provider focusing on navigable waterways throughout the United States.

Engineering Manufacturing Technologies, LLC

EMT Metals is a precision manufacturer of close tolerance metal components used in defense, industrial, and other end markets and applications.

Fix-It Group LLC

Provider of residential maintenance, repair, and replacement services.

This regional food proceesor provides co-packing services to a wide variety of branded and private label liquid and related food products, includuing salsas, BBQ sauces, syrups, and juices.

Francis Drilling Fluids, Ltd.

Francis Drilling Fluids provides an integrated network of warehousing, transportation and energy field services to offer customers a one-stop alternative for drilling fluids, storage and transportation of hydraulic fracturing materials, equipment rental and cleaning services.

Texas-based GFRC Cladding Systems LLC designs, engineers, fabricates, and delivers glass fiber reinforced concrete (GFRC) panels for commercial construction.  The majority of the company’s work is focused on the production of wall, spandrel and column cover cladding panels.


GrayMatter is a leading provider of operational technologies and Industrial IoT consulting services to the manufacturing, water and energy industries in North America. 

HH-Inspire Acquisition, Inc.

A plastic surgery and aesthetic center offering a comprehensive range of cosmetic surgeries and aesthetics treatments.

Imperative Chemical Partners

Imperative provides producing oil wells and midstream pipelines with specialty chemicals and capillary services, operating from more than 30 locations throughout the Permian Basin.

Iten Defense, LLC

Iten Defense is a leading provider of advanced composites and armor solutions used in personal protective equipment, aircraft, tactical vehicles, and maritime vessels.

Karman Missile & Space Systems

Karman is a premier manufacturer of flight-critical and high temperature assemblies and components for space and defense end-markets with significant content on the industry’s most coveted platforms.

Leadpoint Business Services

Leadpoint is a workforce outsourcing solution provider for the material recycling facility industry.  

LWO Acquisition Company, LLC

Circuitronics is a manufacturer of low-volume, high-mix printed circuit boards (“PCBs”) and provider of related electronic manufacturing services (”EMS”). The Company’s capabilities include prototype development, design for manufacturing/design for testing services, PCB assembly, and end-of-life supply chain services. LWO focuses on serving niche markets, which require rapid product development and high quality, low volume production, including control, test and measurement products for industrial, utilities, water, oil & gas, and commercial audio/visual applications.

MCG Energy Solutions, LLC

MCG Energy Solutions  is a provider of SaaS-based energy trading, asset and risk management workflow automation software products to the energy sector.

NeoGraf Solutions

NeoGraf is an industry-leading designer, formulator, and manufacturer of specialty natural graphite products for a diverse set of end markets.


Founded in 1998, OCI is a manufacturer of custom-built drilling components for the infrastructure and construction end markets. OCI is a marketplace leader in supplying micropile casing, drill string, hammers and bits, augurs, core barrels, swivels, and other customized products to geotechnical service companies and drilling contractors.

Perimeter Solutions Group, LLC

PSG is a commercial fencing and site security solutions provider for commercial property owners and contractors throughout the Southeastern United States.

Quality Environmental Services, Inc.

Quality Environmental Services is a leading provider of environmental remediation services to private, state, and federal customers in the greater Midwest region.

Salt & Straw, LLC

Artisanal ice cream company founded in 2011 by cousins Kim & Tyler Malek

Salvo Technologies, Inc.

Based in Tampa, FL, Salvo Technologies is a developer and manufacturer of photonics products.  Salvo's photonic profile includes electro optical components and assemblies; fire control optics; custom camera lenses; multispectral and hyperspectral point detection and imaging systems, and sports firearm accessories.

Sea Link International IRB, Inc.

Sea Link is a Tier 2 manufacturer and supplier of automotive lighting components and Intermediate Bulk Container “IBC” valves. 

Sokol & Company, Inc.

Sokol is a wet-fill manufacturer of food ingredients and retail-ready food products. Sokol serves a nationwide group of food manufacturers, retail brands, and retail grocers and produces sauces, dressings, marinades, glazes, frostings, pastes, ice cream ribbons and bases, fudge, nut butters, and fillings in bulk, retail, and pouch formats.

Total Access Elevator

Total Access Elevator is a leading provider of commercial elevator modernization, maintenance, and repair services in the greater Los Angeles Area.

Unirac, Inc.

Unirac is a manufacturer of solar panel mounting systems for residential and commercial markets.

Viva Railings, LLC

Founded in 2005, Viva Railings is a leader in architectural railing systems, providing turnkey in-house designs, engineering, fabrication, and installations, serving leading architects, contractors, and building owners. Viva Railings offers stainless steel and wood railing systems with a variety of in-fill options, including glass, wire mesh, perforated metal, and steel cable.

WB Xcel Holdings, LLC

Founded in 1982 and headquartered in Hawaii, Xcel designs and markets high-quality, innovative equipment and apparel for the surfing, diving and paddleboarding categories. The company's products are distributed through specialty retail stores both domestically and internationally, as well as directly to consumers through www.xcelwetsuits.com

WorkforceQA LLC

Leading tech-enabled Third-Party Administrator (“TPA”) of employee compliance solutions focused on regulated and safety-sensitive industries.