Gladstone Investment Supports Add-on Acquisition for Portfolio Company Nocturne Villa Rentals, Inc.

Rhea-AI Summary

Gladstone Investment Corporation (Nasdaq: GAIN) announced on July 23, 2021, its investment in Nocturne Villa Rentals for the acquisition of St. Barth Properties and St. Barth Dream Vacations. This acquisition marks Nocturne's second since its inception, following the acquisition of Exceptional Stays in June 2021. St. Barth Properties, founded in 1989, manages over 250 luxury vacation rentals in St. Barth, providing premier hospitality services. Gladstone aims to expand Nocturne's portfolio in the luxury vacation rental market.

Positive

• Acquisition of St. Barth Properties enhances Nocturne's portfolio with over 250 luxury properties.
• Strengthens Gladstone's focus on building a leading luxury vacation rental management platform globally.
• Positive partnership with SBP's experienced management team could drive future growth.

Negative

• None.

MCLEAN, VA / ACCESSWIRE / July 29, 2021 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today that on July 23, 2021, it made an additional secured debt investment in its portfolio company Nocturne Villa Rentals, Inc. ("Nocturne") to acquire St. Barth Properties, Inc. and St. Barth Dream Vacations, SARL (collectively referred to as "SBP").

Nocturne partnered with members of SBP's executive management in the acquisition of SBP, representing Nocturne's second acquisition since inception after acquiring Telluride, Colorado-based Exceptional Stays, LLC ("Exceptional Stays") in June 2021. Founded in 1989, SBP is based in Franklin, MA, with an office in St. Barth, and is one of the leading vacation rental management ("VRM") companies on the island. SBP has a portfolio of over 250 luxury properties on St. Barth and is known for providing best-in-class hospitality services to its guests and property owners alike.

"We're very excited to partner with the team at SBP and believe their high-end portfolio of luxury properties and best-in-class service offering make it an excellent addition to the Nocturne platform in our efforts to build the leading luxury VRM with an expansive portfolio of properties worldwide. We continue to look for future acquisitions under the Nocturne umbrella," 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 Nocturne and its management team, Exceptional Stays, SBP, and their respective management teams, and the ability of Nocturne, Exceptional Stays, and SBP 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 publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or otherwise, except as required by law.

For further information: Gladstone Investment Corporation, 703-287-5893

SOURCE: Gladstone Investment Corporation

View source version on accesswire.com:
https://www.accesswire.com/657507/Gladstone-Investment-Supports-Add-on-Acquisition-for-Portfolio-Company-Nocturne-Villa-Rentals-Inc

FAQ

What acquisition did Gladstone Investment Corporation announce on July 23, 2021?

Gladstone Investment announced an additional secured debt investment in Nocturne Villa Rentals for the acquisition of St. Barth Properties and St. Barth Dream Vacations.

How many luxury properties does St. Barth Properties manage?

St. Barth Properties manages over 250 luxury vacation rental properties.

What is the significance of Nocturne's acquisition of St. Barth Properties?

The acquisition strengthens Nocturne's portfolio and aims to establish a leading position in the luxury vacation rental market.

What was Nocturne's previous acquisition before St. Barth Properties?

Nocturne's previous acquisition was Exceptional Stays in June 2021.

What does this acquisition indicate about Gladstone's investment strategy?

It indicates a strategy focused on expanding market presence in the luxury vacation rental sector.