Gladstone Investment Corporation Acquires Home Concepts Magazine
MCLEAN, VA / ACCESSWIRE / May 22, 2023 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today that on May 12, 2023, it partnered with Xyresic Capital ("Xyresic Capital") to acquire Home Concepts Holdings, LLC ("Home Concepts"), together with its executive management team. Gladstone Investment provided senior secured debt and the majority of the equity to complete the transaction.
Headquartered in Santa Barbara, CA, Home Concepts is the largest independently owned home improvement advertising publication in the United States. Home Concepts focuses on connecting homeowners to high-quality residential repair and remodeling businesses by publishing and distributing advertising magazines throughout its footprint of more than 3.8 million homeowners across California, Texas, Arizona, Nevada, Washington, Colorado and Tennessee.
"Home Concepts is a market leader in an interesting niche of the direct mail marketing industry, serving as a valuable advertising partner to highly rated residential contractors across several major metropolitan areas. We are very excited to partner with this talented team and look forward to helping the company as it continues to expand into new markets and other advertising channels," said Peter Roushdy, Executive Vice President and 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, Home Concepts and their management teams, and the ability of Gladstone Investment and Home Concepts 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 May 22, 2023