Today's Top SOA Links
From the Wires
Gladstone Capital Corporation Invests $14 Million in Ag Trucking, Inc.
By: PR Newswire
Dec. 26, 2012 04:30 PM
MCLEAN, Va., Dec. 26, 2012 /PRNewswire/ -- Gladstone Capital Corporation (NASDAQ: GLAD) ("Gladstone Capital") announced today that on December 24, 2012 it invested $14 million through a combination of debt and equity in Ag Trucking, Inc. The investment in Ag Trucking was sponsored by 184.108.40.206 Investments.
Ag Trucking, led by CEO Tim Boehlke, is a regional food-grade liquid and dry bulk carrier based in Goshen, Indiana. The company was founded in 1978. Ag Trucking serves large international agricultural and food manufacturing firms out of its five terminals in the Midwest and Southeastern United States. Ag Trucking's services are critical to their customers' ability to maintain tight production schedules.
"Gladstone Capital is excited about investing in Ag Trucking. The company has a stable business model with many opportunities for growth," said Chip Stelljes, President of Gladstone Capital.
"This is our first investment with 220.127.116.11 Investments. Its principal, Dale LeFebvre, is an experienced investor with a track record of growing businesses. We look forward to working with him on this and many other transactions," said John Freal, Managing Director of Gladstone Capital.
"Ag Trucking is a leader in the bulk transportation industry, serving a niche market with a reputation for superior quality for over 30 years. We look forward to working with Gladstone Capital, a world-class business development firm, again in the future, as we pursue our strategy of acquiring small to medium-size companies with excellent management teams and significant market share in important niche areas," said Dale LeFebvre, Chairman of 18.104.22.168 Investments. Ag Trucking is the second acquisition by Mr. LeFebvre and 22.214.171.124 Investments in less than a year.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities consisting primarily of senior term loans, second lien term loans, and senior subordinated term loans in small and medium-sized U.S. businesses. Gladstone Capital has paid 110 consecutive monthly cash distributions on its common stock. Before paying monthly distributions on the common stock, Gladstone Capital paid eight consecutive quarterly cash distributions. Information on the business activities of 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.
Forward Looking Statements:
The statements in this press release regarding opportunities for growth, potential future transactions with the sponsor and other statements that are not historical facts are "forward-looking statements." These forward-looking statements inherently involve certain risks and uncertainties, although they are based on Gladstone Capital's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause Gladstone Capital's actual results to differ from these forward-looking statements include, among others, the duration and effects of the current economic instability, Gladstone Capital's ability to access debt and equity capital, Gladstone Capital's ability to identify and make investments that are consistent with its investment objectives and those other factors listed under the caption "Risk Factors" in Gladstone Capital's annual report on Form 10-K (the "Form 10-K") filed on November 13, 2012 (File No. 814-00237) and Gladstone Capital's registration statement on Form N-2 (the "Form N-2") filed on November 29, 2012 (File No. 333-185191). The risk factors set forth in the Form 10-K and the Form N-2 under the caption "Risk Factors" are specifically incorporated by reference into this press release. Gladstone Capital undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Gladstone Capital Corporation
Web 2.0 Latest News
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week