Gladstone Capital Corporation Exits its Investment in Antenna Research Associates, Inc.
Gladstone Capital (Nasdaq:GLAD) announced the sale of its equity interest and debt investment prepayment in Antenna Research Associates (ARA), resulting in a significant gain on its equity investment. Gladstone Capital, along with ARA's management and institutional co-investors, had acquired ARA in November 2018. ARA, founded in 1963, specializes in designing and manufacturing antennas and RF systems for military and civilian applications across multiple industries including Communication Networks, SATCOM, RADAR, and Electronic Warfare. The company experienced rapid growth during Gladstone's investment period, expanding both organically and through multiple acquisitions.
Gladstone Capital (Nasdaq:GLAD) ha annunciato la vendita della sua partecipazione azionaria e il rimborso anticipato di un investimento in debito in Antenna Research Associates (ARA), risultando in un guadagno significativo sul suo investimento azionario. Gladstone Capital, insieme alla direzione di ARA e a co-investitori istituzionali, aveva acquisito ARA nel novembre 2018. Fondata nel 1963, ARA è specializzata nella progettazione e produzione di antenne e sistemi RF per applicazioni militari e civili in vari settori, tra cui Reti di Comunicazione, SATCOM, RADAR e Guerra Elettronica. Durante il periodo di investimento di Gladstone, l'azienda ha registrato una rapida crescita, espandendosi sia organicamente che attraverso numerose acquisizioni.
Gladstone Capital (Nasdaq:GLAD) anunció la venta de su participación en capital y el prepago de la inversión en deuda en Antenna Research Associates (ARA), lo que resultó en una ganancia significativa en su inversión de capital. Gladstone Capital, junto con la dirección de ARA y co-inversores institucionales, adquirió ARA en noviembre de 2018. ARA, fundada en 1963, se especializa en el diseño y fabricación de antenas y sistemas RF para aplicaciones militares y civiles en múltiples industrias, incluyendo Redes de Comunicación, SATCOM, RADAR y Guerra Electrónica. La empresa experimentó un rápido crecimiento durante el período de inversión de Gladstone, expandiéndose orgánicamente y a través de múltiples adquisiciones.
글래드스톤 캐피탈 (Nasdaq:GLAD)은 안테나 리서치 어소시에이츠 (ARA)에서의 지분 매각과 채무 투자 선지를 발표하며 지분 투자에서 상당한 이익을 실현했다고 밝혔습니다. 글래드스톤 캐피탈은 ARA의 경영진 및 기관 공동 투자자들과 함께 2018년 11월에 ARA를 인수했습니다. 1963년에 설립된 ARA는 통신 네트워크, SATCOM, RADAR 및 전자전 등 다양한 산업 분야에서 군사 및 민간 애플리케이션을 위한 안테나 및 RF 시스템 설계 및 제조에 전문화되어 있습니다. 회사는 글래드스톤의 투자 기간 동안 유기적으로 및 여러 인수 통해 빠른 성장을 경험했습니다.
Gladstone Capital (Nasdaq:GLAD) a annoncé la vente de sa participation en capital et le remboursement anticipé de son investissement en dette dans Antenna Research Associates (ARA), ce qui a entraîné un gain significatif sur son investissement en capital. Gladstone Capital, avec la direction d'ARA et des co-investisseurs institutionnels, avait acquis ARA en novembre 2018. Fondée en 1963, ARA est spécialisée dans la conception et la fabrication d'antennes et de systèmes RF pour des applications militaires et civiles dans de nombreuses industries, y compris les Réseaux de Communication, SATCOM, RADAR et la Guerre Électronique. L'entreprise a connu une croissance rapide pendant la période d'investissement de Gladstone, s'étendant à la fois organiquement et par le biais de multiples acquisitions.
Gladstone Capital (Nasdaq:GLAD) hat den Verkauf seines Eigenkapitalanteils und die vorzeitige Rückzahlung von Schuldeninvestitionen bei Antenna Research Associates (ARA) bekannt gegeben, was zu einem erheblichen Gewinn bei seiner Eigenkapitalinvestition führte. Gladstone Capital hatte ARA zusammen mit dem Management von ARA und institutionellen Mitinvestoren im November 2018 akquiriert. ARA, 1963 gegründet, ist auf die Planung und Herstellung von Antennen und RF-Systemen für militärische und zivile Anwendungen in verschiedenen Branchen spezialisiert, einschließlich Kommunikationsnetzwerke, SATCOM, RADAR und elektronische Kriegsführung. Das Unternehmen erlebte während des Investitionszeitraums von Gladstone ein schnelles Wachstum, indem es sowohl organisch als auch durch mehrere Akquisitionen expandierte.
- Realized significant gain on equity investment
- Successfully exited both equity and debt positions
- Portfolio company achieved rapid growth during investment period
- None.
Insights
The exit from Antenna Research Associates marks a significant milestone for Gladstone Capital's portfolio management. The transaction includes both equity sale and debt prepayment, resulting in a substantial capital gain from the 2018 investment. This successful exit demonstrates GLAD's ability to identify, nurture and profitably exit middle-market investments.
ARA's growth trajectory during GLAD's ownership period, including organic expansion and multiple acquisitions, validates their investment thesis in the defense and communications sector. The full exit suggests optimal timing in the market cycle, likely capitalizing on increased valuations in the defense technology sector amid growing global security concerns. This realization will provide fresh capital for new investments and potentially support GLAD's dividend distribution capacity.
MCLEAN, VA / ACCESSWIRE / November 4, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) ("Gladstone Capital") announced today the sale of its equity interest and the prepayment of its debt investment in Antenna Research Associates, Inc. ("ARA"). As a result of this transaction, Gladstone Capital realized a significant gain on its equity investment. Gladstone Capital in combination with ARA's management and institutional co-investors acquired ARA in November 2018.
ARA, founded in 1963 and headquartered in Laurel, Maryland, has over 60 years of experience designing, developing, and manufacturing antennas and RF systems for both military and civilian applications across a multitude of industries including Communication Networks, Unmanned Air Systems SATCOM, RADAR, RF Surveillance and Jamming for Electronic Warfare, Spectrum Operations and Border Patrol, Public Safety Networks, and Civilian markets.
"Gladstone Capital has enjoyed a strong partnership with ARA's management team, co-investors, and Board of Directors over the last several years. We are proud to have supported the business through a period of rapid growth, both organically and through multiple acquisitions," said John Sateri, Managing Director of Gladstone Capital. "Logen Thiran, CEO, and the entire management team have achieved outstanding results in both growing and transforming the business and we wish them continued success."
Gladstone Capital Corporation is a publicly traded business development company that invests primarily in debt securities and makes equity co-investments, consisting of senior and junior capital to lower middle market businesses in the United States. Additional information can be found at www.gladstonecapital.com.
For Investor Relations inquiries related to any of the monthly distribution-paying Gladstone family of funds, please visit www.gladstone.com.
Forward-looking Statements:
The statements in this press release regarding the longer-term prospects of Gladstone Capital and ARA and its management team, and the ability of Gladstone Capital and ARA to be successful in the future 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 Capital's current beliefs 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 Capital's filings with the Securities and Exchange Commission. Gladstone Capital 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 Capital Corporation, 703-287-5810
SOURCE: Gladstone Capital Corporation
View the original press release on accesswire.com
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