MCLEAN, Va., Aug. 26, 2019 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ: GAIN) announced today the sale of its investment in GAIN ADC Holdings, LLC, parent company to Alloy Die Casting Corporation, to PWP Growth Equity on August 23, 2019. The transaction resulted in a significant realized gain on Gladstone Investment’s equity investment and full repayment at par of the debt investment. Gladstone Investment acquired ADC in October 2013.

ADC is a leading provider of value-added manufacturing and supply-chain solutions for highly- engineered metal components serving the aerospace, defense, medical, automotive, and industrial markets.

“Gladstone Investment has enjoyed a strong partnership with ADC’s management team over the last several years,” said Christopher Lee, Managing Director of Gladstone Investment. “Rick Simpson, President, and the entire management team have achieved outstanding results in both growing and transforming the business and we wish them continued success.”

“With the sale of ADC and from inception in 2005, Gladstone Investment has exited 19 of its management supported buy-outs, generating significant net realized gains on these investment exits in aggregate,” said David Dullum, President of Gladstone Investment. “Our strategy and capability as a buyout fund with our investment approach of realizing gains on equity, while generating strong current income during the investment period, provides meaningful value to shareholders.”

Gladstone Investment Corporation is a publicly traded business development company that seeks to make significant equity and secured debt 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.