Gladstone Investment Corporation Acquires Utah Pacific
Gladstone Investment Corporation (Nasdaq: GAIN) announced the acquisition of Utah Pacific Bridge & Steel, LLC and Mountain Pacific Transport, LLC on July 30, 2021. This strategic move aims to enhance its market presence in the western U.S. by leveraging Utah Pacific's leadership in large steel components for bridge construction. The transaction involved both equity and senior secured debt financing. Gladstone expressed confidence in Utah Pacific’s growth potential and commitment to quality service.
- Acquisition enhances market position in the Western U.S.
- Access to Utah Pacific's expertise in steel components for bridge projects.
- Partnership with Utah Pacific’s management for strategic growth.
- None.
MCLEAN, VA / ACCESSWIRE / August 12, 2021 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today that on July 30, 2021, it acquired Utah Pacific Bridge & Steel, LLC and Mountain Pacific Transport, LLC (collectively, "Utah Pacific") in partnership with certain members of Utah Pacific's executive management. Gladstone Investment provided both equity and senior secured debt to complete the transaction.
Headquartered in Lindon, Utah, Utah Pacific is the leading provider of large steel components used in bridge replacement, rehabilitation, and construction in the Western U.S. By combining best-in-class manufacturing capacity, engineering expertise, and steel fabrication, Utah Pacific's specialized approach brings substantial value to its customers.
"Operating within a complex and mission-critical industry, Utah Pacific's commitment to manufacturing quality product and providing excellent customer service sets it apart from its peers. We are very excited to partner with the talented team at Utah Pacific and look forward to helping the company as it enters its next phase of growth," said Kyle Largent, Executive Vice President and Senior Managing Director of Gladstone Investment.
Gladstone Investment is a publicly traded business development company that seeks to acquire lower middle market businesses in the United States, providing both equity and secured debt investments in its transactions. 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 and Utah Pacific and its management team, and the ability of Gladstone Investment and Utah Pacific 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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