MCLEAN, Va., Nov. 1, 2010 /PRNewswire-FirstCall/ -- Gladstone
Investment Corporation (Nasdaq: GAIN) (the "Company") announced
today that on Friday, October 29,
2010, it closed on a $25.0
million investment in Venyu Solutions Inc. ("Venyu")
consisting of subordinated debt and equity. The Company,
together with Boston based private
equity firm Madison Parker Capital, LLC and certain members of
Venyu's management, invested debt and equity capital to support the
buyout of Venyu from stockholders of PHNS Inc. Venyu,
headquartered in Baton Rouge,
Louisiana, is a leader in commercial-grade, customizable
solutions for data protection, data hosting, and disaster recovery.
For more information on Venyu, please go to
www.venyu.com.
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"Gladstone Investment is excited about partnering with the
talented management team at Venyu and its prospects in the data
protection and recovery business," said Dave Dullum, the Company's President. "We
have a developing backlog of new investment opportunities and look
forward to more closings over the next year."
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. To sign up to receive notifications
about Gladstone Investment or its affiliated companies, please
visit www.Gladstone.com.
Forward-looking Statements:
The statements in this press release regarding the
longer-term prospects of Venyu and its management team, the data
protection, availability and recovery business, and the Company's
backlog of investments and ability to close on those investments
are "forward-looking statements." These forward-looking statements
inherently involve certain risks and uncertainties, although they
are based on the Company's current plans that are believed to be
reasonable as of the date of this press release. Factors that may
cause the Company's actual results to differ from these
forward-looking statements include, among others, the duration and
potential future effects of the current economic downturn on its
portfolio companies and on the senior loan market and those factors
listed under the caption "Risk Factors" of the Company's Form 10-K
for the fiscal year ended March 31,
2010, as filed with the SEC on May
24, 2010 and our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2010, as filed
with the SEC on August 2, 2010. The
risk factors set forth in the Form 10-K and 10-Q under the caption
"Risk Factors" are specifically incorporated by reference into this
press release. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE Gladstone Investment Corporation