Gladstone Investment Corporation Acquires The Maids International
MCLEAN, Va., March 09, 2020 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq: GAIN) (“Gladstone Investment”) announced today that on March 4, 2020, it partnered with Dan Kirwan in the acquisition of The Maids International, LLC (“The Maids”). Gladstone Investment provided the equity and senior secured debt to complete the transaction. Dan Kirwan is a long-time executive of The Maids and will assume the role of President and Chief Executive Officer at closing.
Based in Omaha, Nebraska, The Maids is the franchisor of the home service brand “The Maids.” The Maids is the quality leader among house cleaning services in the industry, with franchise and company-owned locations in over 40 U.S. states and three Canadian provinces.
“The Maids is a brand with an outstanding legacy, established in 1979, and reputation in its market. We look forward to working with the management team and our investment partner, Dan Kirwan, to build on that foundation as The Maids enters its next phase of growth,” said Erika Highland, Managing Director of Gladstone Investment.
“With our recent successes of portfolio company exits, we are extremely excited to be adding another quality portfolio company to Gladstone Investment’s assets through this acquisition, as we expect it to produce both income for dividends to shareholders and longer term capital appreciation for capital gains,” said David Dullum, President 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 U. S. 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 and The Maids and its management team, and the ability of Gladstone Investment and The Maids 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 March 9, 2020