Gladstone Invests $16.3 Million in Alloy Die Casting
October 10, 2013
Gladstone Investment Corp., McLean, Va., has invested $16.3 million in a combination of debt and equity to purchase Alloy Die Casting Co., Buena Park, Calif. Gladstone Investment’s affiliated company, Gladstone Capital Corp. participated as a co-investor by providing $7 million of debt and equity financing on the same terms as Gladstone Investment in support of the acquisition.
Founded in 1946, Alloy Die Casting manufactures high quality finished aluminum and zinc castings for aerospace, defense, aftermarket automotive and industrial applications. The company provides its customers with engineering support and custom tool design and fabrication as well as in-house machining and finishing capabilities.
“Gladstone Investment is excited to partner with Alloy Die Casting’s talented and experienced management team. We look forward to the continued growth of the business and building upon the success of the management team over the past few years,” said Greg Bowie, a director of private finance for Gladstone Management Corp., Gladstone Investment’s affiliated investment adviser.
Gladstone Investment is a publicly traded business development company that seeks to make debt and equity investments in small and midsize businesses in the U.S. in connection with acquisitions, changes in control and recapitalizations.