Gladstone Investment Corporation and Slate Capital Group Acquire Horizon Facilities Services
MCLEAN, VA, July 02, 2019 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announced today that on June 28, 2019, it partnered with Slate Capital Group, LLC (“Slate Capital”), and members of the Company’s executive management in the acquisition of Horizon Facilities Services, LLC (“Horizon” or the “Company”). Gladstone Investment provided equity and senior secured debt to complete the transaction.
Headquartered in Allentown, PA, Horizon is a leading provider of outsourced services to the rental car industry under the Managed Labor Solutions brand. Additionally, Horizon provides commercial janitorial services under the Professional Maintenance Co. brand. Horizon partners with its customers through a transaction-based pricing model which enhances customer cost visibility and operational efficiency.
“Horizon’s ability to solve complex staffing and logistical problems for its clients sets Horizon apart from its peers. We are very excited to partner with Slate Capital and the talented team at Horizon and look forward to helping the Company as it enters its next phase of growth,” said Peter Roushdy, Managing Director of Gladstone Investment.
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt 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.gladstoneinvestment.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 Gladstone Investment and Horizon and its management team, and the ability of Gladstone Investment and Horizon 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 update or revise these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Gladstone Investment Corporation
For further information: Gladstone Investment Corporation, 703-287-5893
Released July 2, 2019