Gladstone Investment Corporation Exits its Investment in Nth Degree, Inc.
Gladstone Investment (Nasdaq:GAIN) has announced the sale of its portfolio company Nth Degree, Inc. to Shamrock Capital, resulting in a significant capital gain on its remaining equity position. Gladstone Investment initially acquired Nth Degree in 2015, sold a majority stake in 2019, and made additional investments in 2023. Nth Degree, based in Duluth, GA, is a leading provider of exhibit management and event services globally.
Mitchell Grant, Director of Gladstone Investment, expressed pride in supporting Nth Degree's growth. David Dullum, President of Gladstone Investment, highlighted that this marks the 31st exit from their management supported buy-outs since 2005, emphasizing their strategy of realizing gains on equity while generating strong current income from debt investments.
Gladstone Investment (Nasdaq:GAIN) ha annunciato la vendita della sua azienda in portafoglio Nth Degree, Inc. a Shamrock Capital, che ha portato a un significativo guadagno di capitale sulla sua posizione azionaria residua. Gladstone Investment ha inizialmente acquisito Nth Degree nel 2015, ha venduto una quota di maggioranza nel 2019 e ha effettuato ulteriori investimenti nel 2023. Nth Degree, con sede a Duluth, GA, è un fornitore leader a livello globale di gestione mostre e servizi per eventi.
Mitchell Grant, Direttore di Gladstone Investment, ha espresso orgoglio nel supportare la crescita di Nth Degree. David Dullum, Presidente di Gladstone Investment, ha sottolineato che questo segna il 31° uscita dai loro buy-out supportati dalla gestione dal 2005, evidenziando la loro strategia di realizzare guadagni su azioni mentre generano forti entrate attuali dagli investimenti in debito.
Gladstone Investment (Nasdaq:GAIN) ha anunciado la venta de su empresa de cartera Nth Degree, Inc. a Shamrock Capital, resultando en una ganancia de capital significativa sobre su posición de capital restante. Gladstone Investment adquirió inicialmente Nth Degree en 2015, vendió una participación mayoritaria en 2019 y realizó inversiones adicionales en 2023. Nth Degree, con sede en Duluth, GA, es un proveedor líder de gestión de exposiciones y servicios para eventos a nivel global.
Mitchell Grant, Director de Gladstone Investment, expresó su orgullo por apoyar el crecimiento de Nth Degree. David Dullum, Presidente de Gladstone Investment, destacó que esto marca la 31ª salida de sus adquisiciones apoyadas por la gestión desde 2005, enfatizando su estrategia de realizar ganancias en capital mientras generan fuertes ingresos actuales a partir de inversiones en deuda.
글래드스톤 투자(Nasdaq:GAIN)는 자회사 Nth Degree, Inc.를 샴록 캐피탈에 매각했다고 발표하였으며, 이로 인해 남아있는 주식 지분에서 상당한 자본 이익이 발생했습니다. 글래드스톤 투자자는 2015년에 Nth Degree를 처음 인수했으며, 2019년에 대다수의 지분을 매각하고 2023년에 추가 투자를 했습니다. Nth Degree는 조지아주 덜루스에 본사를 둔 글로벌 전시 관리 및 이벤트 서비스의 선두 제공업체입니다.
글래드스톤 투자 이사 미첼 그랜트는 Nth Degree의 성장을 지원하게 되어 자부심을 표명했습니다. 글래드스톤 투자 사장 데이비드 덜럼은 2005년 이후 그들의 관리 지원 인수에서 31번째 출구를 기록했다는 점을 강조하며, 자기 자본에서 이익을 실현하면서 채권 투자로 강력한 현재 수익을 창출하는 전략을 강조했습니다.
Gladstone Investment (Nasdaq:GAIN) a annoncé la vente de son entreprise en portefeuille Nth Degree, Inc. à Shamrock Capital, ce qui a entraîné un gain de capital significatif sur sa position d'équité restante. Gladstone Investment a initialement acquis Nth Degree en 2015, a vendu une participation majoritaire en 2019 et a réalisé des investissements supplémentaires en 2023. Nth Degree, basé à Duluth, GA, est un fournisseur mondial de services de gestion d'exposition et d'événements.
Mitchell Grant, directeur de Gladstone Investment, a exprimé sa fierté de soutenir la croissance de Nth Degree. David Dullum, président de Gladstone Investment, a souligné que cela marque la 31ème sortie de leurs rachats soutenus par la direction depuis 2005, mettant en avant leur stratégie de réaliser des gains sur les capitaux tout en générant de solides revenus courants grâce aux investissements en dette.
Gladstone Investment (Nasdaq:GAIN) hat den Verkauf seines Portfoliounternehmens Nth Degree, Inc. an Shamrock Capital angekündigt, was zu einem signifikanten Kapitalgewin auf seiner verbleibenden Eigenkapitalposition führt. Gladstone Investment hat Nth Degree ursprünglich im Jahr 2015 erworben, 2019 eine Mehrheitsbeteiligung verkauft und 2023 zusätzliche Investitionen getätigt. Nth Degree mit Sitz in Duluth, GA, ist ein führender Anbieter von Ausstellungsmanagement und Veranstaltungsdiensten weltweit.
Mitchell Grant, Direktor von Gladstone Investment, drückte seinen Stolz darüber aus, das Wachstum von Nth Degree zu unterstützen. David Dullum, Präsident von Gladstone Investment, hob hervor, dass dies die 31. Exit aus ihren managementgestützten Übernahmen seit 2005 markiert und betonte ihre Strategie, Gewinne aus Eigenkapital zu realisieren, während sie starke laufende Einkünfte aus Schuldeninvestitionen erzielen.
- Realized significant capital gain on remaining equity position in Nth Degree
- Successfully exited 31 management supported buy-outs since 2005
- Strategy of realizing gains on equity while generating strong current income from debt investments
- None.
The sale of Nth Degree represents a significant exit for Gladstone Investment (GAIN). While specific financial details aren't disclosed, the mention of a "significant capital gain" suggests a positive outcome for GAIN's shareholders. This aligns with GAIN's strategy of realizing gains on equity investments while generating income from debt investments.
The exit from Nth Degree marks GAIN's 31st successful buyout exit since 2005, demonstrating a track record of profitable investments. This consistent performance could enhance investor confidence in GAIN's business model and management capabilities. The transaction also frees up capital for new investments, potentially driving future growth.
Investors should note GAIN's focus on lower middle market businesses and its dual approach of equity appreciation and dividend growth. This strategy aims to provide both capital gains and steady income, which could be attractive in the current market environment.
This exit showcases the value creation potential in private equity investments in the lower middle market. Gladstone's initial acquisition in 2015, partial exit in 2019 and subsequent reinvestment in 2023 demonstrate a flexible approach to portfolio management. The ability to support Nth Degree's acquisition of Exposition Holdings indicates GAIN's capacity to facilitate growth through add-on acquisitions.
The success of this investment underscores the importance of patient capital and active management in private equity. GAIN's long-term partnership with Nth Degree (2015-2024) allowed for significant value creation through both organic growth and strategic acquisitions. This approach can be particularly effective in the lower middle market, where there's often more room for operational improvements and strategic repositioning.
For investors, this exit reinforces the potential of BDCs like GAIN to generate attractive returns through a combination of current income and capital appreciation.
MCLEAN, VA / ACCESSWIRE / September 16, 2024 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today the sale of its portfolio company Nth Degree, Inc. ("Nth Degree") to Shamrock Capital. As a result of this transaction, Gladstone Investment realized a significant capital gain on its remaining equity position. Gladstone Investment originally acquired Nth Degree in 2015, sold a majority of its equity position in 2019, and subsequently invested additional equity and debt in 2023 to facilitate Nth Degree's acquisition of Exposition Holdings, LLC d/b/a Fern Exposition Services.
Nth Degree, headquartered in Duluth, GA, is a market-leading provider of exhibit management services and event services to clients across the globe.
"Gladstone Investment has enjoyed a strong partnership with Nth Degree and its talented management team over many years. We are proud to have supported the business through a period of transformation and growth, both organically and through acquisition," said Mitchell Grant, Director of Gladstone Investment. "The entire Nth Degree management team has achieved outstanding results in growing the business and we wish them continued success."
"With the sale of Nth Degree and from inception in 2005, we have exited 31 of our management supported buy-outs, generating significant net realized gains on these investments," said David Dullum, President of Gladstone Investment. "Our fund strategy is to realize gains on equity, while also generating strong current income during the investment period from debt investments alongside our equity investments. This provides meaningful value to our shareholders with potential stock appreciation and dividend growth."
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, Nth Degree and their management teams, and the ability of Gladstone Investment and Nth Degree 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
View the original press release on accesswire.com
FAQ
What was the outcome of Gladstone Investment 's sale of Nth Degree, Inc.?
When did Gladstone Investment initially acquire Nth Degree, Inc.?
How many management supported buy-outs has Gladstone Investment exited since its inception in 2005?
What is Gladstone Investment 's (GAIN) investment strategy?
