MCLEAN, Va., Dec. 22, 2014 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (Nasdaq:GLAD) ("Gladstone Capital") announced today that on December 19, 2014, it made a $8.4 million investment to recapitalize B+T Group in partnership with B+T Group's management team. Gladstone Capital completed this transaction with its affiliate, Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment"), which invested $19.6 million. In addition to the equity capital necessary for the transaction, Gladstone Capital and Gladstone Investment also provided the debt financing. B+T Group, founded in 2000 and headquartered in Tulsa, OK, is a full-service provider of structural engineering, construction, and technical services to the wireless tower industry for tower upgrades and modifications.
"Gladstone Capital is excited to partner with the talented management team at B+T Group. The company has built an outstanding reputation in the wireless tower industry, and we look forward to supporting the team as they continue to grow that legacy," said Kyle Largent, Managing Director of Gladstone Investment and Gladstone Capital.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities, consisting primarily of senior, second lien and senior subordinated term loans in small and medium sized businesses in the United States. 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.