Gladstone Investment Corporation Acquires The E3 Company and Expands its Investment in Nocturne Luxury Villas via an Acquisition of Exclusive 30A Rentals

Rhea-AI Summary

Gladstone Investment partners with Xyresic Capital to acquire The E3 Company, investing $46.0 million. E3 is the market leader in pressure management solutions for oil and gas well completions. Gladstone Investment also expands its investment in Nocturne Luxury Villas through the acquisition of Exclusive 30A Rentals, investing $18.7 million. E3 and Exclusive 30A bring valuable expertise and growth potential to Gladstone Investment.

Positive

• Gladstone Investment's acquisition of The E3 Company and expansion in Nocturne Luxury Villas through Exclusive 30A Rentals provide growth opportunities and expertise in the oil and gas and luxury villa rental markets.
• E3's pressure management solutions are recognized as the industry standard, positioning Gladstone Investment well in the oil and gas sector.

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• None.

MCLEAN, VA / ACCESSWIRE / September 13, 2023 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today that on September 8, 2023, it partnered with Xyresic Capital ("Xyresic Capital") to acquire The E3 Company, LLC ("E3"). Gladstone Investment invested $46.0 million through a combination of senior secured debt and equity to complete the transaction.

Headquartered in Kilgore, TX, E3 is the market leader in advanced pressure management solutions for oil and gas well completions. E3 leverages patented and proprietary equipment to provide improved operational efficiency and superior safety across every major oil and gas basin in the United States.

"E3 has become a valuable partner to major oilfield service companies through the United States. The pressure management system that their team has developed is recognized as the gold standard across the industry. We are very excited to partner with this talented team and look forward to supporting E3 as it expands further into the market," said Peter Roushdy, Executive Vice President and Managing Director of Gladstone Investment.

Separately, Gladstone Investment has expanded its investment in Nocturne Luxury Villas ("Nocturne"), an existing portfolio company, through its acquisition of Exclusive 30A Rentals, LLC ("Exclusive 30A"), a leading villa rental management company operating along Florida's scenic Highway 30A. Gladstone Investment invested $18.7 million of senior secured debt to complete the transaction.

Founded in 2009 by design professional and luxury travel entrepreneur Jacque Hamilton, Exclusive 30A manages and markets for rent more than 100 exclusive properties, stretching from Dune Allen to Inlet Beach, including the iconic waterfront communities of Santa Rosa Beach, Watercolor, Seaside/Seagrove, Seacrest, Watersound, and Rosemary Beach.

"Jacque and her team bring a unique blend of exquisite taste and design talent, and an innate five-star hospitality ethos focused on exceeding their homeowners' and guests' expectations at every turn. We look forward to preserving and building upon Exclusive 30A's legacy of excellence," said Scott Simmons, Nocturne Co-Founder and Executive Chairman.

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 transactions 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, E3, Nocturne, Exclusive 30A and their management teams, and the ability of Gladstone Investment, E3, Nocturne, Exclusive 30A 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

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