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$18,600,000


Senior Debt
Preferred Equity

December 2013

 

Gladstone Investment Corporation (NASDAQ: GAIN) and Gladstone Capital Corporation (NASDAQ: GLAD) provided an aggregate of $18.6 million in a combination of debt and equity to purchase Meridian Rack & Pinion, Inc., doing business as Buy Auto Parts. Gladstone Investment and Gladstone Capital, together with Digital Fuel Capital, a private equity firm focused on e-commerce and digital marketing, and Meridian's existing management team along with founder JP Gilbertz provided the capital in support of the acquisition of the business.

Founded in 1989 and based in San Diego, CA, Meridian is a provider of aftermarket and OEM replacement automotive parts, which it sells through both wholesale channels and online at BuyAutoParts.com. Meridian distributes a targeted set of product lines, which include replacement turbochargers, air conditioning parts, steering racks, and suspension components.

For more information on Meridian Rack & Pinion, Inc., please visit www.meridianautoparts.com or www.buyautoparts.com.

 

"Gladstone is excited to partner with Digital Fuel and the talented management team at Meridian. We look forward to continued growth and expansion, building on the success the management team has achieved over the past few years," said Kyle Largent, Managing Director of Gladstone Investment and Gladstone Capital.

For additional information on this transaction you may contact Kyle Largent or Irene Stucke.

THE GLADSTONE COMPANIES
Leaders in private equity, debt and real estate ownership and financing, the Gladstone Companies are a family of public and private investment funds. Our funds as applicable, invest in small and medium-sized companies, commercial real estate, and farmland, providing financing to such businesses across the capital structure, from second lien and mezzanine debt to equity, as well as real estate financing solutions.

Financing for the Gladstone Companies is provided by four public investment vehicles: Gladstone Capital Corporation (NASDAQ: GLAD), Gladstone Investment Corporation (NASDAQ: GAIN), Gladstone Commercial Corporation (NASDAQ: GOOD), and Gladstone Land Corporation (NASDAQ: LAND).


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