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Gladstone Capital provides one-stop financing for lower middle market companies.
 
 
Gladstone Capital ended 2014 on a high note, closing seven fundings in the last quarter bringing the total to over $100 million of investments for the year. We would like to thank all of our private equity clients who contributed to these results and wish all of you continued success in 2015.
 
 
 
 

2014 Transaction Highlights

 
 
 
 

 



Line of Credit
Senior Term Loan

Gladstone Capital provided a revolver and senior term loan to support the debt refinancing and growth of Vision Government Solutions, Inc., a portfolio company of Gemini Investors.

Founded in 1975 and headquartered in Northboro, MA, Vision is a leading provider of land parcel management software technology and appraisal services to local government organizations.

 
 
 
 

 
$15,000,000

Line of Credit
Senior Term Loan
Equity Co-Investment

Gladstone Capital committed $15.0 million of unitrache facilities (line of credit and senior term loan) and an equity co-investment in support of Corridor Capital, LLC's acquisition of Circuitronics, Inc.

Founded in 1971 and headquartered in Dallas, TX, Circuitronics is a premier electronic manufacturing services company focused on the design and production of specialized printed circuit board assemblies and related services.

 
 
 
 

 
$8,400,000

Line of Credit
Senior Term Loan
Prefered Equity

Gladstone Capital provided $8.4 million of senior secured term debt and preferred equity to recapitalize B+T Group in partnership with B+T Group's management team and Gladstone Investment.

B+T Group is a full-service provider of structural engineering, construction, and technical services to the wireless tower industry for tower upgrades and modifications.

 
 
 
 


 
$8,750,000

Senior Subordinated Debt
Equity Co-Investment

Gladstone Capital assisted in the sourcing of senior financing and provided the senior subordinated term debt and equity co-investment to support the acquisition of Southern Petroleum Laboratories, Inc. by Hastings Equity Partners, certain funds advised by Jordan/Zalaznick Advisers, Inc. and The Edgewater Funds.

Founded in 1944, SPL provides the oil and gas production industry with independent lab, measurement and field meter services, and well production allocation services.

 
 
 
 

 

$7,000,000

Senior Subordinated Debt
Equity Co-Investment

Gladstone Capital provided senior subordinated term debt and an equity co-investment in support of Taglich Private Equity LLC's acquisition of Lignetics, Inc.

Founded in 1983 and headquartered in Sandpoint, ID, Lignetics manufactures and distributes branded wood pellets nationally for home and industrial heating, animal bedding or moisture absorption applications.

 
 
 
 

 
$11,250,000 Initial
$14,062,500 Add On

Line of Credit
Senior Term Loan
Equity
Co-Investment

Gladstone Capital provided a one-stop financing (line of credit and senior term loan) and an equity co-investment to support Hastings Equity Partners' investment in WadeCo Specialties Inc.

The financing was later upsized to support WadeCo Specialties' acquisitions of Elite Treating of Midland, Texas, and Select Chemicals of Yorktown, Texas.

Founded in 2005 and headquartered in Midland, TX, WadeCo provides chemical distribution and treatment services to support producing oil wells across the southwestern US.

 
 
 
 

 
$11,100,000

Line of Credit
Senior Debt
Senior Subordinated Debt
Preferred Equity

Gladstone Capital provided a $11.1 million line of credit and senior term debt and equity financing to support the acquisition of Edge Adhesives Holdings, Inc., by Gladstone Investment, Akoya Capital LLC, and certain members of Edge Adhesives' executive management team.

Headquartered in Fort Worth, TX, Edge is a leading developer and manufacturer of innovative adhesives, sealants, tapes and related solutions used in building products, transportation, electrical and HVAC, among other markets.

 
 
 
Overview
Gladstone Capital Corporation (NASDAQ:GLAD) is one of The Gladstone Companies' family of publicly traded investment funds, which currently total approximately $1.5 billion of assets under management. Founded in 2001, Gladstone Capital was one of the first BDC funds to focus on providing debt capital to established private equity sponsored and owner operated lower middle market businesses. To date Gladstone Capital has invested over $1.5 billion since its inception across a diverse number of industries and managed its investments through a variety of economic cycles. By leveraging GLAD's investor-oriented approach, industry experience and lower middle market focus, we are able to deliver flexible debt capital solutions to meet a company's growth objectives using a combination of senior, unitranche, second-lien and subordinated debt and equity co-investments.

GLADSTONE CAPITAL'S INVESTMENT TEAM
  Bob Marcotte
President
McLean, VA
(703) 287-5857
 
 

Zoltan Berty
West Coast
Managing Director
Los Angeles, CA
(310) 693-5073

  John Freal
Mid-Atlantic/Boston
Managing Director
McLean, VA
(703) 287-5805
  Laura Gladstone
New York/Syndicated
Managing Director
New York, NY
(212) 792-4187
 

Dave Meier
Midwest
Managing Director
Chicago, IL
(312) 674-4623

John Sateri
Southeast
Managing Director
McLean, VA
(703) 287-5908
Michael Beckett
Texas
Director
McLean, VA
(703) 287-5832

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1521 Westbranch Drive • Suite 100 • McLean, VA 22102
Phone: (703) 287-5800 • Fax: (703) 287-5801