MCLEAN, Va., Aug. 3, 2015 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today that on July 31, 2015, Gladstone Investment, together with certain members of the executive management team, acquired Wincove-GIP Acquisition, Inc. (d.b.a. GI Plastek) from Wincove Capital, a private investment firm. Gladstone Investment provided equity, first lien senior debt and a revolving credit facility to complete the transaction. GI Plastek, based in Wolfeboro, NH is a leading manufacturer of medium to large, customized and highly aesthetic plastic injection molded products utilizing structural foam, gas assist, and straight injection processes. In addition, the Company offers value-added assembly and secondary finishing operations, including painting, inserting and decorating.
"We are excited to partner with GI Plastek's extremely talented and experienced management team on the next phase of the company's growth," said Blair Gertmenian, Director of Gladstone Investment's management company. "GI Plastek has an excellent reputation in the market as a leading manufacturer of customized injection molded products with superior customer service and support."
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. Additional information on the transaction 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 GI Plastek and its management team, and the ability of GI Plastek 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 Investment'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 Investment's filings with the Securities and Exchange Commission. Gladstone Investment 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 Investment Corporation, 703-287-5893
Source:Gladstone Investment Corporation