Gladstone Investment Corporation Supports Portfolio Company SFEG in its Acquisition of Climax Portable Machine Tools, Inc.
- Gladstone Investment supports SFEG's acquisition of Climax, creating significant value for both companies
- None.
MCLEAN, VA / ACCESSWIRE / October 25, 2023 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") continued its support of portfolio company Specialized Fabrication Equipment Group LLC ("SFEG") with additional debt and equity capital to support its acquisition of CPMT Holdings Corp., and subsidiaries, including Climax Portable Machine Tools, Inc. (collectively, "Climax").
Headquartered in Newberg, Oregon, Climax is a leading designer and manufacturer of portable machine tools, welding systems, and valve testing and repair systems. The products are used for non-discretionary, on-site, high-precision machining of critical infrastructure assets and equipment.
SFEG designs and sells a suite of branded, specialty equipment for the fabrication and welding industry. Chief Executive Officer of SFEG, Vinay Varma, said, "The company is excited to add the Climax portfolio to the group of products we offer our customers and partners, and to join with such a strong management team at Climax to continue the growth of the combined company."
Chris Lee, Managing Director of Gladstone Investment, said, "This acquisition creates significant value for SFEG and the Gladstone Investment portfolio and furthers our goal of creating value in the portfolio through meaningful add-on investments."
Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market private businesses in the United States 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 distribution-paying Gladstone family of funds, please visit www.gladstonecompanies.com.
Forward-looking Statements:
The statements in this press release regarding the longer-term prospects of Gladstone Investment and SFEG, Climax, and its management team, and the ability of Gladstone Investment and SFEG 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 Investment'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 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, 703-287-5810
SOURCE: Gladstone Investment Corporation
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