D.A. Davidson Serves as Financial Advisor to The Maids International, LLC in Sale to Gladstone Investment Corporation
March 10 2020 - 4:02PM
Business Wire
D.A. Davidson & Co. announced today that it has served as
exclusive financial advisor to The Maids International, LLC, a
leading franchisor of residential cleaning services under the
nationally recognized brand “The Maids,” in its sale to Gladstone
Investment Corporation (Nasdaq: GAIN), a publicly traded business
development company.
Gladstone Investment partnered with Dan Kirwan, a longtime
executive of The Maids, in the acquisition. Gladstone Investment
provided the equity and senior secured debt to complete the
transaction. Kirwan will be President and Chief Executive Officer
post-closing.
Founded over 40 years ago in Omaha, Nebraska, The Maids is the
quality leader among house-cleaning services, with franchise and
company-owned locations in over 40 U.S. states and three Canadian
provinces.
“We were pleased to work with The Maids and look forward to
following the company’s ongoing success as a leading residential
cleaning franchisor. This is an exciting transaction for the
company, which is partnering with a financial sponsor that has
tremendous experience and a proven track record growing companies
in the middle market,” said Eric Rindahl, Managing Director of
Investment Banking at D.A. Davidson.
“The Maids is a brand with an outstanding legacy 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.
“Having been with The Maids for 20 years, I am truly excited to
partner with Gladstone Investment for this next chapter of growth.
The team at Davidson did a great job understanding our brand and
positioning the company based on the quality we bring to not only
our customers but our franchisee partners as well,” Kirwan
said.
The company will continue to be headquartered in Omaha. Koley
Jessen served as legal counsel to The Maids; Blank Rome served as
legal counsel to Gladstone Investment.
About Gladstone Investment Corporation
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 can be found at www.gladstoneinvestment.com.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds, visit
www.gladstonecompanies.com.
D.A. Davidson’s investment banking division is a leading
full-service investment bank that offers comprehensive financial
advisory and capital markets expertise. The group has extensive
transaction experience serving middle market clients worldwide
across five industry verticals: consumer, diversified industrials,
financial institutions, real estate and technology.
Together with its European strategic partner, MCF Corporate
Finance, D.A. Davidson originates and executes transatlantic
M&A transactions under the common brand of D.A. Davidson MCF
International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services
firm offering a range of financial services and advice to
individuals, corporations, institutions and municipalities
nationwide. Founded in 1935 and headquartered in Montana, with
corporate offices in Denver, Los Angeles, Portland and Seattle, the
company has approximately 1,400 employees and offices in 26
states.
Subsidiaries include: D.A. Davidson & Co., the largest
full-service investment firm headquartered in the Northwest,
providing wealth management, investment banking, equity and fixed
income capital markets services and advice; Davidson Investment
Advisors, a professional asset management firm; D.A. Davidson Trust
Company, a trust and wealth management company; and Davidson Fixed
Income Management, a registered investment adviser providing fixed
income portfolio and advisory services.
For more information, visit dadavidson.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200310005918/en/
Jacquie Burchard jburchard@dadco.com (406) 791-7465
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