MCLEAN, VA – Gladstone Investment (NASDAQ:) Corporation (NASDAQ:GAIN) has partnered with Scott Dunlop and Pyrotek Special Effects, Inc.’s executive management to acquire the company, a leading provider of special effects for live entertainment. The transaction, completed on November 22, 2024, saw Gladstone Investment provide both equity and senior secured debt.
Pyrotek, known for its extensive range of special effects, creative and technical design services, and support for live events worldwide, serves a diverse clientele including top names in music, sports, and media. Scott Dunlop, the CEO of Pyrotek, will continue to lead the company post-acquisition.
Erika Highland, Senior Managing Director at Gladstone Investment, expressed enthusiasm about the partnership with Dunlop and Pyrotek, citing the company’s strong market reputation and legacy. Gladstone’s President, David Dullum, anticipates the acquisition to contribute to shareholder dividends and capital gains over the long term.
Gladstone Investment, a business development company publicly traded on the NASDAQ, focuses on equity and secured debt investments in lower middle market businesses during acquisitions and other control-changing transactions.
While the press release projects optimism for the growth and expansion of both Gladstone Investment and Pyrotek, it includes forward-looking statements that are subject to risks and uncertainties. These statements, based on current plans, could change materially due to various factors, as detailed in Gladstone Investment’s SEC filings.
The information in this article is based on a press release statement from Gladstone Investment Corporation.
In other recent news, Gladstone Investment Corporation reported steady financial results for its second quarter of fiscal year 2025. The company announced an adjusted net investment income (NII) of $0.24 per share, a consistent monthly distribution of $0.08 per share, and a noteworthy supplemental distribution. Despite a decrease in net asset value (NAV) per share, a successful exit was completed, and the company maintained a robust balance sheet with ample liquidity.
In addition, the firm successfully invested in Nocturne Luxury Villas and exited from Nth Degree, resulting in $42.3 million in realized capital gains. However, the company also witnessed a decrease in NAV per share from $13.01 to $12.49, primarily due to distributions and unrealized depreciation. The company’s management expressed optimism about…
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