Gladstone Capital Corp. Invests $14M in Ag Trucking
Gladstone Capital Corporation (NASDAQ: GLAD) announced that on December 24, 2012 it invested $14 million through a combination of debt and equity in Ag Trucking, Inc. The investment in Ag Trucking was sponsored by 126.96.36.199 Investments.
Ag Trucking, led by CEO Tim Boehlke, is a regional food-grade liquid and dry bulk carrier based in Goshen, Indiana. The company was founded in 1978. Ag Trucking serves large international agricultural and food manufacturing firms out of its five terminals in the Midwest and Southeastern United States. Ag Trucking's services are critical to their customers' ability to maintain tight production schedules.
"Gladstone Capital is excited about investing in Ag Trucking. The company has a stable business model with many opportunities for growth," said Chip Stelljes, President of Gladstone Capital.
"This is our first investment with 188.8.131.52 Investments. Its principal, Dale LeFebvre, is an experienced investor with a track record of growing businesses. We look forward to working with him on this and many other transactions," said John Freal, Managing Director of Gladstone Capital.
"Ag Trucking is a leader in the bulk transportation industry, serving a niche market with a reputation for superior quality for over 30 years. We look forward to working with Gladstone Capital, a world-class business development firm, again in the future, as we pursue our strategy of acquiring small to medium-size companies with excellent management teams and significant market share in important niche areas," said Dale LeFebvre, Chairman of 184.108.40.206 Investments. Ag Trucking is the second acquisition by Mr. LeFebvre and 220.127.116.11 Investments in less than a year.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities consisting primarily of senior term loans, second lien term loans, and senior subordinated term loans in small and medium-sized U.S. businesses. Gladstone Capital has paid 110 consecutive monthly cash distributions on its common stock. Before paying monthly distributions on the common stock, Gladstone Capital paid eight consecutive quarterly cash distributions. Information on the business activities of all the Gladstone funds 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.