MCLEAN, Va., Oct. 1, 2014 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today that on September 30, 2014, it provided financing of $20.2 million in a combination of debt and equity to purchase Cambridge Sound Management, Inc. ("CSM"), a premier provider of sound masking systems. Gladstone Investment partnered with independent sponsor, Boston Harbor Capital Partners, LLC, in the acquisition.
CSM, founded in 1999 and based in Waltham, MA, is the developer of Qt Quiet Technology™ sound masking systems. CSM offers innovative, simple and intelligently designed solutions to the problems of privacy and acoustic distractions.
"Gladstone Investment is excited about partnering with Boston Harbor Capital Partners and the talented and experienced management team at CSM. CSM has a distinguished history in the field of acoustics and we look forward to building on this history and the successes that CSM has already achieved," said Erika Highland, Director at Gladstone Management, Gladstone Investment's affiliated investment adviser.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Gladstone Investment has paid 111 consecutive monthly cash distributions on its common stock. Additional information on this transaction can be found at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
Forward-looking Statements:
The statements in this press release regarding the longer-term prospects of CSM and its management team, and the ability of CSM 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 the Company'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 publicly release the result of any revisions to these forward looking statements that may be made to reflect any future events or otherwise, except as required by law.