ACCESSWIRE
22 May 2023, 22:43 GMT+10
MCLEAN, VA / ACCESSWIRE / May 22, 2023 / Gladstone Investment Corporation (NASDAQ:GAIN) ('Gladstone Investment') announced today that on May 12, 2023, it partnered with Xyresic Capital ('Xyresic Capital') to acquire Home Concepts Holdings, LLC ('Home Concepts'), together with its executive management team. Gladstone Investment provided senior secured debt and the majority of the equity to complete the transaction.
Headquartered in Santa Barbara, CA, Home Concepts is the largest independently owned home improvement advertising publication in the United States. Home Concepts focuses on connecting homeowners to high-quality residential repair and remodeling businesses by publishing and distributing advertising magazines throughout its footprint of more than 3.8 million homeowners across California, Texas, Arizona, Nevada, Washington, Colorado and Tennessee.
'Home Concepts is a market leader in an interesting niche of the direct mail marketing industry, serving as a valuable advertising partner to highly rated residential contractors across several major metropolitan areas. We are very excited to partner with this talented team and look forward to helping the company as it continues to expand into new markets and other advertising channels,' said Peter Roushdy, Executive Vice President and Managing Director of Gladstone Investment.
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market 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 dividend paying Gladstone funds, please visit www.gladstonecompanies.com.
Forward-looking Statements:
The statements in this press release regarding the longer-term prospects of Gladstone Investment, Home Concepts and their management teams, and the ability of Gladstone Investment and Home Concepts to grow and expand 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 plans 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.
For further information: Gladstone Investment Corporation, (703) 287-5893
SOURCE: Gladstone Investment Corporation
Get a daily dose of Nashville Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nashville Herald.
More InformationBEIJING, China: Amid its rivalry with the US for reaching new milestones in space, reflecting their competition for global influence, ...
WASHINGTON D.C.: A Transportation Security Administration (TSA) report released this week revealed that over the Memorial Day weekend, the start ...
KUALA LUMPUR, Malaysia: Malaysia's maritime agency has said that it found a cannon shell believed to be from World War ...
KATHMANDU, Nepal - For the past three days, agitated students and guardians have been protesting against the school administration at ...
BEIJING, China: In a new sign of strain between the United States and China, Beijing has rejected a request from ...
GOWER, Missouri: Hundreds of people flocked to the small town of Gower, Missouri, to see a mummified nun, Sister Wilhelmina ...
WASHINGTON D.C.: The Federal Communications Commission (FCC) has said that more than 8.3 million US homes and businesses do not ...
CHICAGO, Illinois: Driven by an ongoing shortage of properties available on the market, in March US single-family home prices rose ...
MIAMI, Florida: Carnival Cruise Lines has said a cruise ship, the Carnival Sunshine, which sailed through rough seas off the ...
BEIJING, China: On his return to China after a three year absence, which is his company's largest production hub, Tesla ...
NEW YORK, New York - U.S. stocks surged on Friday on the debt ceiling resolution and a strong jobs report.Nonfarm ...
SANTA CLARA, California: As investors piled more capital into Nvidia, the chipmaker that has become one of the biggest winners ...