Gladstone Investment Corporation Acquires Dema Plumbing
DENVER, CO / ACCESSWIRE / July 6, 2022 / Headquartered in Denver, CO, Dema Plumbing is the largest plumbing and mechanical systems installation and services provider to single-family residential homebuilders in Colorado's Front Range (including Denver, Boulder, Colorado Springs, and Fort Collins). By combining high-quality workmanship, advanced plumbing knowledge, and the region's largest labor force of licensed plumbing professionals, Dema Plumbing provides unmatched service to national homebuilders throughout the Front Range region.
Simultaneous to this acquisition, Dema Plumbing will merge with Mai Mechanical, LLC ("Mai"), an existing portfolio company of Gladstone Investment. Based in Denver, CO, Mai is a leading provider of plumbing and mechanical services focused on multi-family residential construction in the Denver area. "We are very excited to partner with John and his team at Dema, and to continue our relationship with Mai through the formation of a larger platform better positioned to continue expanding in Colorado's Front Range," said Travis Steele, Director of Gladstone Investment.
"We believe that these businesses are a natural strategic fit, combining the largest plumbing and mechanical contractors serving the single-family and multi-family residential markets in the Front Range, respectively. We are very excited to partner with this talented team 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.gladstonecompanies.com.
The statements in this press release regarding the longer-term prospects of Gladstone Investment, Dema Plumbing, Mai and their management teams, and the ability of Gladstone Investment, Dema Plumbing, and Mai 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.
For further information: Gladstone Investment Corporation, 703-287-5893
SOURCE: Gladstone Investment Corporation
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Released July 6, 2022