MCLEAN, VA / ACCESSWIRE / November 25, 2024 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today that on November 22, 2024, it partnered with Scott Dunlop and the company's executive management in the acquisition of Pyrotek Special Effects, Inc. ("Pyrotek"). Gladstone Investment provided equity and senior secured debt to complete the transaction. Scott Dunlop is the long-time President and CEO of Pyrotek and will remain in these roles.
Pyrotek is a leading provider of special effects services and solutions for the live entertainment industry with a full range of special effects offerings, creative and technical design services, permitting and logistics support worldwide, and specialized installation, setup, and tear down. Pyrotek's customer base consists of the largest names in global music and entertainment, professional sports leagues, marquee music festivals, award shows, and globally recognized media and entertainment brands.
"We are very excited to partner with Scott Dunlop and his team at Pyrotek. Pyrotek is a brand with an outstanding legacy and reputation in the market. We look forward to supporting the company through its next phase of growth," said Erika Highland, Senior Managing Director of Gladstone Investment.
"We are thrilled to be adding another quality portfolio company to Gladstone Investment's assets through this acquisition, as we expect it to produce both income for dividends to shareholders and longer-term capital appreciation for capital gains," said David Dullum, President of Gladstone Investment.
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in connection with acquisitions, changes in control, and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.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 Gladstone Investment and Pyrotek and its management team, and the ability of Gladstone Investment and Pyrotek 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 Gladstone Investment'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 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) 287-5893
SOURCE: Gladstone Investment Corporation
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