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Gladstone Investment Corporation (NASDAQ:GAIN) made a follow-on investment of equity and debt in its portfolio company, Precision Southeast, Inc. (PSI), to facilitate the strategic acquisition of Plastic Solutions, Inc. Plastic Solutions, Inc. is based in Indiana and is a custom injection molder serving the automotive, small engine, furniture, air handling device, sporting goods, manufactured housing, and recreational vehicles industries. PSI is based in South Carolina and is an injection molder that designs sophisticated molds and manufactures highly engineered molded plastic products using a variety of resins. The combined company operates three plants, two in South Carolina and one in Indiana. This acquisition significantly enhances PSI's competitive capabilities and product offerings, with presses ranging in capacity from 22 tons to 1,500 tons.

Steve Stradtman, CEO of PSI, and Bob Tennyson, former CEO of Plastic Solutions, Inc., have combined two companies with excellent management teams and capabilities in order to build on long term customer relationships and to expand the offerings of PSI.

Steve Stradtman said of the acquisition, "[my] vision for PSI and being competitive in the marketplace is to bring value to relationships by investing in growth, quality, program management, continuous improvement and technology. The purchase of Plastic Solutions, Inc. fits all of these categories."

Christopher Lee, a Managing Director of Gladstone Investment, agreed, "[t]his combination strengthens both companies, bringing added customer and end-industry diversification, expanded geographic reach, and a strengthened / broadened management bench."

   
         
   
   
    For more information on this transaction please contact:       
   

Christopher Lee
Managing Director
(703) 287-5887

Greg Bowie
Director
(703) 287-5834

   
   
   
    Gladstone Investment
Gladstone Investment is one of The Gladstone Companies' family of public funds, which currently has approximately $1.7 billion total assets under management. We invest in well managed lower middle market companies by providing capital for change of control transactions, growth, acquisitions, and recapitalizations. Since we are a public investment fund, we structure our investments in line with the long term needs of the business. We have no partnership end-of-life deadlines.

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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