Gladstone Investment Corporation Acquires Educators Resource
MCLEAN, Va., Dec. 06, 2018 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announced today that on November 30, 2018, it acquired Educators Resource, Inc. (“Educators Resource” or the “Company”) in partnership with members of the Company’s executive management team. Gladstone Investment provided equity and senior secured debt to complete the transaction.
Educators Resource is a leading wholesale distributor of school supplies and K-12 supplemental teaching materials to market leading e-retailers and brick-and-mortar stores nationwide. The Company offers the broadest array of products in the market, with over 25,000 SKUs sourced from over 300 suppliers, ensuring that reseller customers are able to deliver upon an “endless aisle” experience without the burden of onerous inventory and fulfillment costs. Additional information can be found at www.educatorsresource.com.
“Educators Resource is a leader in e-commerce fulfillment, providing a value-added, turnkey solution to resellers of supplemental teaching materials. We are excited to partner with the talented team at Educators Resource 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 secured debt and equity 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 Educators Resource and its management team, and the ability of Gladstone Investment and Educators Resource 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 December 6, 2018