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GLADSTONE  ANNOUNCES SALE ON EQUITY INVESTMENT

 


Gladstone Investment Corporation is pleased to announce the sale of one of its portfolio companies, Chase Doors, to Sentinel Capital Partners.  

Gladstone received payment of its principal, accrued interest and fees on loans, as well as a return on its equity investment.

In March 2006, Gladstone supported Chase Doors’ management team by providing debt and equity financing, in conjunction with serving as the Company’s equity sponsor, in the support of a management-led buyout.  Later, Gladstone assisted Chase with its acquisition of Staples & Stevens and Advance Fiberglass, which helped enhance Chase Doors’ continued growth in the industrial door industry.

Headquartered in Cincinnati, OH, Chase Doors is a premier manufacturer of impact traffic doors.  Also referred to as swing doors, double-acting doors, industrial doors, solid core doors and bump doors, Chase’s doors are tailored to suit many different markets, including supermarket, retail, restaurant, industrial, pharmaceutical, food processing, institutional and postal.  

Regarding the sale, Chase Doors’ President, Bob Muir, commented, "Chase Doors’ management and Gladstone have been terrific partners for the past five years.  Gladstone worked alongside management to provide the capital and insights needed to help Chase Doors’ achieve its business and strategic goals.  Gladstone has been a strong supporter of the management team at every turn and we have valued our relationship highly."

Gladstone invested Senior Debt, Subordinated Debt and Equity into Chase Doors.  For additional details on this transaction please click HERE or you may contact either David Dullum or Kipp Kranbuhl

THE GLADSTONE COMPANIES
Leaders in private equity, debt and real estate financing, we are a family of public and private investment funds with approximately $1.2 billion invested. Our funds invest in small and medium-sized companies and provide businesses the capital to fund growth, acquisitions and recapitalizations. Gladstone provides financing across the capital structure from second lien and mezzanine debt, to equity and real estate financing.
Financing for the Gladstone Companies is provided by three public investment vehicles. Gladstone Capital Corporation, (NASDAQ: GLAD), Gladstone Investment Corporation, (NASDAQ: GAIN) and Gladstone Commercial Corporation, (NASDAQ: GOOD).


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