Gladstone Investment Corporation

Gladstone Investment Corporation announced it has closed on the acquisition of Extrude Hone, an Irwin, Pennsylvania-based provider of precision surface-finishing solutions. Extrude Hone serves mission-critical applications across aerospace, automotive, heavy industrial and energy end markets, using proprietary technologies and service capabilities to improve product performance, reliability and manufacturing efficiency. Christopher Lee, Executive Vice President of Gladstone Investment, said the firm is excited to partner with the Extrude Hone management team and support the company's next phase of growth, citing its strong market position and differentiated capabilities. Chief Executive Officer and President David Dullum said the deal adds another quality company to Gladstone Investment's portfolio of operating businesses and is expected to produce both income for dividends to shareholders and longer-term appreciation for capital gains. Gladstone Investment is a publicly traded business development company that makes equity and secured debt investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations.

Gladstone Investment Corporation has provided additional capital to Global GRAB Technologies to support its acquisition of Barrier1 Systems, a U.S. manufacturer of engineered anti-ram vehicle barrier systems. Barrier1, headquartered in Greensboro, North Carolina, was founded in 2006 and makes crash-rated bollards, drop and swing arms, wedge barriers, crash beams and vehicle arrestor net systems for high-security and mission-critical applications. The deal meaningfully expands Global GRAB's portfolio of engineered and crash-rated perimeter security products and adds complementary engineering and U.S.-based manufacturing capabilities, following the recent acquisition of RSSI Barriers. Global GRAB Chief Executive Officer Mark Horne said the combination strengthens the company's ability to serve customers with increasingly complex perimeter security and facility-hardening requirements. Michael Cueter, a Managing Director at Gladstone Investment, called Barrier1 a highly strategic acquisition that brings a well-recognized brand, strong U.S.-based manufacturing and longstanding customer relationships across demanding high-security environments.

Enerpac Tool Group is acquiring Specialized Fabrication Equipment Group from Gladstone Investment Corp. for approximately $472 million in cash. The company announced the deal on July 8, stating it will expand exposure to higher-growth geographies and end markets. Roth Capital lowered its price target on Enerpac to $50 from $51 on July 9 while maintaining a Buy rating, citing the company's organic growth strategy and the strength of the soon-to-be-acquired S.F.E Group business. The firm views Enerpac as an excellent investment for those looking to benefit from growing global infrastructure project activity.

Gladstone Investment has acquired DHE Computer Systems, providing both debt and equity financing for the transaction. DHE is a Colorado-based full-service technology solutions provider serving government, education, and commercial customers, offering end-to-end IT products and services including hardware, software, deployment, repair, warranty support, data recovery, and managed services. CEO Dan Hammack and the existing management team will continue leading DHE following the acquisition, and founders Dan Hammack and Elena Hammack will remain significant shareholders alongside Gladstone Investment.