Gladstone Investment Corporation Acquires The Maids International
March 09 2020 - 8:00AM
Gladstone Investment Corporation (Nasdaq: GAIN) (“Gladstone
Investment”) announced today that on March 4, 2020, it partnered
with Dan Kirwan in the acquisition of The Maids International, LLC
(“The Maids”). Gladstone Investment provided the equity and senior
secured debt to complete the transaction. Dan Kirwan is a long-time
executive of The Maids and will assume the role of President and
Chief Executive Officer at closing.
Based in Omaha, Nebraska, The Maids is the
franchisor of the home service brand “The Maids.” The Maids is the
quality leader among house cleaning services in the industry, with
franchise and company-owned locations in over 40 U.S. states and
three Canadian provinces.
“The Maids is a brand with an outstanding
legacy, established in 1979, and reputation in its market. We look
forward to working with the management team and our investment
partner, Dan Kirwan, to build on that foundation as The Maids
enters its next phase of growth,” said Erika Highland, Managing
Director of Gladstone Investment.
“With our recent successes of portfolio company
exits, we are extremely excited to be adding another quality
portfolio company to Gladstone Investment’s assets through this
acquisition, as we expect it to produce both income for dividends
to shareholders and longer term capital appreciation for capital
gains,” said David Dullum, President 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 U. S. 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 and The Maids and its management team, and the ability
of Gladstone Investment and The Maids 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.
SOURCE: Gladstone Investment Corporation
For further information: Gladstone Investment
Corporation, 703-287-5893
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