Gladstone Capital Announces Financing To Support RPM
Rhea-AI Summary
Gladstone Capital (NASDAQ:GLAD) has announced the completion of a junior debt facility to support Bluejay Capital Partners and Trive Capital's acquisition of RPM Freight Systems, RPM is a technology-driven, asset-light provider of transportation management solutions for finished vehicle logistics and specialized freight markets in North America and Europe.
RPM, headquartered in Royal Oak, Michigan, serves over 30 countries, offering data-driven solutions for OEMs, online dealers, and re-marketing firms. Eric Maloy, Managing Director at Gladstone Capital, expressed enthusiasm for partnering with Bluejay and Trive Capital, highlighting RPM's market-leading technological capabilities and value-added services. Both Bluejay Capital and Trive Capital representatives praised Gladstone Capital's flexibility and support in the transaction.
Positive
- Completed junior debt facility for RPM Freight Systems acquisition
- Expansion into technology-driven transportation management solutions
- Partnership with Bluejay Capital Partners and Trive Capital
- RPM's market presence in 30+ countries across North America and Europe
- Potential for future growth and market share expansion
Negative
- None.
News Market Reaction
On the day this news was published, GLAD gained 1.15%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MCLEAN, VA / ACCESSWIRE / August 14, 2024 / Gladstone Capital Corporation (NASDAQ:GLAD) ("Gladstone Capital" or "Gladstone") is pleased to announce the completion of a junior debt facility in support of Bluejay Capital Partners (‘Bluejay Capital" or "Bluejay") and Trive Capital's ("Trive") acquisition of RPM Freight Systems, LLC ("RPM"), a technology-driven, asset-light provider of transportation management solutions to new and used finished vehicle logistics and other specialized freight markets in North America and Europe. Headquartered in Royal Oak, Michigan, and serving 30+ countries across North America and Europe, RPM provides data driven solutions to serve OEMs, online dealers, re-marketing firms, and more in all their finished vehicle transport and component freight needs.
Eric Maloy, Managing Director at Gladstone Capital, stated, "We are thrilled to have the opportunity to partner with Bluejay and Trive Capital alongside a talented management team at RPM to support the future growth prospects of the business. RPM's market-leading technological capabilities and value-added service offerings for both shippers and carriers have resulted in market share growth and a defensive business model. We look forward to supporting the growth needs of the business."
Pierre Mathieu, Managing Partner at Bluejay Capital Partners, commented, "We were impressed with Gladstone Capital's ability to put together a flexible debt structure in an expedited manner to accommodate a tight timeline and look forward to working with the Gladstone team going forward."
Andrew Frank, Managing Director at Trive Capital, added, "Gladstone Capital has been a great partner in several of our portfolio companies by providing flexible capital structures to accommodate and support our value creation initiatives. Gladstone's approach to supporting the acquisition of RPM was no different and we look forward to working with Gladstone Capital on RPM and future transactions."
About Bluejay Capital: Bluejay Capital Partners is an operationally focused private equity firm investing in transportation and logistics businesses. The team has more than 120 years of combined operating experience in the sector and is comprised of industry experts with a strong track record of growth and value creation. Learn more about Bluejay Capital at www.bluejay-capital.com.
About Trive Capital: Trive Capital is a Dallas, Texas based private equity firm with over
About RPM: Headquartered in Royal Oak, Michigan, and serving 30+ countries across North America and Europe, RPM provides data driven solutions to serve OEMs, online dealers, re-marketing firms, and more in all their finished vehicle transport and component freight needs.
About Gladstone Capital Corporation: Gladstone Capital Corporation is a publicly-traded business development company that invests in debt and equity securities consisting primarily of secured first and second lien term loans to lower middle market businesses in the United States. Information on the business activities of all the Gladstone family of funds can be found at www.gladstonecompanies.com.
Investor Relations Inquiries: Please visit www.gladstonecompanies.com.
SOURCE: Gladstone Capital Corporation: +1-703-287-5893
View the original press release on accesswire.com
FAQ
What financing did Gladstone Capital (GLAD) announce on August 14, 2024?
What does RPM Freight Systems, acquired with GLAD's financing, specialize in?
How many countries does RPM Freight Systems serve according to GLAD's announcement?
Who are the key partners in the RPM Freight Systems acquisition supported by GLAD?
