Gladstone Investment Corporation Supports Add-on Acquisition for Portfolio Company J.R. Hobbs
MCLEAN, Va., Oct. 15, 2018 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ: GAIN) made an additional investment into its portfolio company J.R. Hobbs Co – Atlanta, LLC (“J.R. Hobbs”) in order to affect the acquisition of Mai Mechanical.
Headquartered in Lawrenceville, GA, J.R. Hobbs is a mechanical solutions company providing design-build HVAC systems and services for multi-family and commercial properties in the Southeast region of the United States.
Based in Commerce City, CO, Mai Mechanical is a leading plumbing and mechanical contractor servicing the Denver market. "We’re extremely excited to partner with the team at Mai Mechanical," said Dave Harper, CEO of J.R. Hobbs. "For over 40 years, Mai Mechanical has serviced its customers with high-quality plumbing and mechanical solutions. We look forward to preserving Mai Mechanical’s legacy and building on the growth they’ve achieved over the past several years."
Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market private 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 distribution-paying Gladstone family of funds, please visit www.gladstonecompanies.com.
The statements in this press release regarding the longer-term prospects of Gladstone Investment, J.R. Hobbs, and Mai Mechanical and its management team, and the ability of Gladstone Investment, J.R. Hobbs, and Mai Mechanical to be successful in the future 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 beliefs 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 October 15, 2018