Gladstone Investment Corporation Invests $16.5 million in Frontier Packaging
Gladstone Investment Corporation (NASDAQ: GAIN) announced today that on Friday, November 30, 2012, it invested $16.5 million through a combination of debt and equity in Frontier Packaging, Inc. ("Frontier"). Gladstone Investment, together with certain members of Frontier's executive management team, provided the capital to purchase the business from its previous owners. Frontier, founded in 1985, is headquartered in Seattle, Washington. As a supplier of a range of time sensitive packaging materials to the Alaskan seafood market, Frontier adds value through its expertise in product consolidation and logistics.
"Gladstone Investment is excited about partnering with this talented and experienced management team. Frontier has an impressive track record of high customer satisfaction and we look forward to supporting management as they continue to build on that track record," said Dave Dullum, President of Gladstone Investment.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. The Company has paid 89 consecutive monthly cash distributions on its common stock, in addition to a bonus dividend paid on its common stock in March 2012. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.
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