MCLEAN, Va., Feb. 21, 2017 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ:GAIN) (“Gladstone Investment”) announced today that on February 17, 2017, it partnered with members of executive management in the buyout of J.R. Hobbs Co. (“J.R. Hobbs”). Gladstone Investment provided equity and senior secured debt to complete the transaction. Headquartered outside of Atlanta, GA, J.R. Hobbs is a market-leading mechanical solutions company providing design-build systems and services for commercial and multi-unit buildings in the Southeast region of the United States. Founded in 1971, J.R. Hobbs has developed an impressive reputation for quality based on the integrity of its work, processes, and people.
“J.R. Hobbs has a leading position in its market based on its commitment to customer service and a high level of technical expertise. Gladstone Investment is proud to be partnering with the talented team at J.R. Hobbs, and we look forward to helping them continue to build on the growth they have achieved over the past several years,” said Peter Roushdy, Director – Private Equity of Gladstone Investment’s investment adviser.
Gladstone Investment is a publicly traded business development company that seeks to make debt and equity investments in lower middle market 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 J.R. Hobbs and its management team, and the ability of J.R. Hobbs 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.
For further information: Gladstone Investment Corporation, 703-287-5893
Source:Gladstone Investment Corporation