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KKR Leads US$190 million Series C Round in Leading Korean Online Platform MUSINSA

KKR

ransaction includes participation from Wellington Management

SEOUL, South Korea–(BUSINESS WIRE)– MUSINSA, an online fashion platform in South Korea, and KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will lead the US$190 million Series C fundraise of MUSINSA (the “Company”), with participation from Wellington Management, one of the world’s largest independent investment management firms.

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Founded in 2001 as an online sneaker community, MUSINSA is today an online fashion marketplace in South Korea that features more than 8,000 local and foreign designer brands and an in-house brand (musinsa standard), anchoring the creator economy for fashion in South Korea. Over the years, MUSINSA has expanded to include a comprehensive ecosystem including communities, a brand incubator (MUSINSA PARTNERS), a direct-to-consumer brand operator, and an offline multicultural lounge (musinsa terrace) that allows for offline interactions with its customers and provides online-based fashion brands with a physical space for pop-up stores. In 2023, Fast Company named MUSINSA as among the “10 most innovative Asia Pacific companies of 2023” for “globalizing K-fashion.”1

This transaction marks KKR’s first technology growth investment in Korea as part of its Asia Next Generation Technology (“NGT”) strategy, which seeks to support the growth of innovative, disruptive companies in Asia Pacific across key themes, including software, consumer technology and FinTech.

Mukul Chawla, Partner and Head of Growth Equity, Asia Pacific for KKR, said, “MUSINSA has developed itself as a top consumer Internet platform in Korea and a differentiated marketplace by its ability to scale rising brands, enable the creator economy for fashion, engage and provide a high-quality e-commerce experience for customers. We see enormous opportunity for MUSINSA to build on its leading position in a fast-growing K-fashion market that continues to shift online and expand globally on the back of K-culture’s explosive reach. We are excited to partner with the management team and look to leverage KKR’s global network, operational expertise, and deep technology experience to take MUSINSA to its next phase of growth.”

Munil Han, CEO of MUSINSA, said, “We are delighted to welcome global investors of KKR and Wellington’s caliber, which we see as a recognition of the quality of MUSINSA’s platform, and the potential of the Korean online fashion market. With this latest investment, MUSINSA looks to continue scaling our platform and creating new standards of success in the online and offline markets with domestic and foreign brands.”

This Series C is the Company’s third fundraise and follows its successful KRW 130 billion won Series B round in 2021 and KRW 100 billion won Series A round in 2019.

KKR makes its investment as part of its Asia NGT strategy and from funds managed by KKR. Other investments from the strategy include Lenskart, an omni-channel eyewear retailer in India; Advanced Navigation, a developer of AI-powered robotics and navigation technology in Australia; Privy, a digital identity provider in Indonesia; GrowSari, a business-to-business e-commerce platform serving small-and-medium enterprises (“SMEs”) in the Philippines; KiotViet, a software platform for SMEs in Vietnam; and NetStars, the operator of Japan’s largest QR code payment gateway. Additional details of the transaction were not disclosed.

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About MUSINSA
MUSINSA is one of the largest online and offline fashion business companies in Korea, and offers more than 8,000 domestic and foreign brands, including young casual, street, contemporary, formal, sports, and luxury, etc. The company has more than 13 million members and recorded annual GMV of more than KRW 3 trillion won (US$2.35 billion) as of 2022. MUSINSA strives to expand the diversity of the fashion ecosystem based on the core value that the success of partner brands is our success. The company operates a fashion-specialized venture capital subsidiary to energize new brands with great potential to take a step forward in growth. MUSINSA has a diverse business portfolio, including its core service Musinsa Store, online lifestyle select shop 29CM, online re-sell platform soldout, and in-house fashion brand musinsa standard. Currently, MUSINSA, which has unrivaled influence as the No. 1 in the online fashion market in Korea, is concentrating on strengthening its capabilities to exert itself in the offline fashion business as well. MUSINSA is also operating a ‘global store’ that is available in 13 overseas countries, including Asia, America, and Oceania, to help small and medium-sized Korean brands advance overseas and to provide a point of contact for meeting global customers who are interested in Korean fashion. Since investing in the Envisioning Climate Solution Fund, MUSINSA has continuously paid attention to various social issues, including climate change, and is concentrating on fulfilling its social responsibilities as Korea’s leading fashion company.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Wellington Management
Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1 trillion for clients, including pensions, endowments and foundations, insurers, and global wealth managers. Wellington offers investment solutions that span global equity, fixed income, currency, commodity, alternatives, and private markets. Wellington Private Investing has raised nearly US$8 billion in global assets and invests in early-stage venture through late-stage growth across multiple sectors (consumer, technology, health care, financial services, biotechnology, and climate technology) and geographies (Asia, Europe, and the Americas). The Private Investing Team leverages Wellington’s 1,000+ investment professionals around the world, combining deep private market experience with public market expertise, extensive networks, and robust research to benefit both investors and entrepreneurs. For more on Wellington Private Investing, please visit wellington.com/privateinvesting.

1 Fast Company (February 2023). The 10 most innovative Asia-Pacific companies of 2023.

Media

For MUSINSA:
MUSINSA Public Relations Team
+82 10 8921 8381
team-pr@musinsa.com

For KKR:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

For Wellington Management:
Robyn Tice
617 289 6739
rtice@wellington.com

Source: KKR

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Thompson Street Capital Partners Portfolio Company PestCo Holdings Acquires 5 Star Pest Solutions

Thompson

Thompson Street Capital Partners (“TSCP”), a private equity firm based in St. Louis, today announced the acquisition of the assets of 5 Star Pest Solutions LLC (“5 Star”) by PestCo Holdings, LLC (“PestCo”), a TSCP portfolio company. Located in Indianapolis, Indiana, 5 Star is a leading provider of commercial pest control services with a focus on multi-family communities in the greater Indianapolis area. With the backing of PestCo’s team and resources, 5 Star is positioned for future growth, while continuing to provide high-quality service to customers. Terms of the transaction were not disclosed.

This is the eleventh investment for PestCo, an acquisition company formed to consolidate the highly fragmented pest control industry.

“5 Star is an established, quality-focused company and we believe a solid way for us to enter the Indianapolis market,” said Jay Keating, CEO of PestCo. “We are excited to enhance growth opportunities for the business while creating opportunities for the 5 Star team.”

“Thompson Street is excited to continue to expand PestCo’s growing presence by entering the Indianapolis pest control services market. We look forward to partnering with the 5 Star team to help the company achieve its next phase of growth,” said Jeff Aiello, Managing Director, TSCP.

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ECOMMERCE ONE acquires e-commerce specialists Makaira and Marmalade

Oakley

Oakley Capital, the leading pan-European private equity investor, is pleased to announce that portfolio company ECOMMERCE ONE has acquired Makaira GmbH and Marmalade GmbH.

ECOMMERCE ONE was founded in 2021 with the ambition to become the leading comprehensive ecosystem of e-commerce solutions in the DACH region.

Ecommerce One CTA

The two companies were founded by Joscha Krug, who will continue as the business’ Managing Director and will become a minority shareholder in ECOMMERCE ONE.

Makaira offers an e-commerce marketing suite software solution for online retailers including well-known brands such as Sport Conrad, Rotkäppchen-Mumm, Zweirad Stadler and many more. Makaira’s headless eStorefront software enables online merchants to rapidly develop and optimise the front end of their online stores.

Marmalade is a well-established e-commerce consultancy with a focus on providing tailored implementation and customisation services for online merchants, principally building upon shop systems such as Shopify, Shopware and OXID.

Quote Joscha Krug

We are confident we will maximise our innovative power and growth potential in the ECOMMERCE ONE network. This will allow us to offer new features to our customers and expand our presence in the market.

Joscha Krug

Founder — Makaira and Marmalade

The group harnesses synergies between its constituent companies (including Afterbuy, DreamRobot and Gambio) to provide a holistic suite of solutions and support for online merchants selling their products through web shops and online marketplaces like Amazon or eBay. Through the highly complementary acquisitions of Makaira and Marmalade, ECOMMERCE ONE gains further capabilities, reach and cross selling potential.

Online retailers need to adapt to meet increasing market and customer demands. We support them by bundling the knowledge of different software providers and consulting companies from the e-commerce market and providing them with holistic solutions. With the latest acquisition of Marmalade and Makaira, we gain both development and consulting expertise as well as established and sought-after technologies. In particular, Makaira’s headless infrastructure opens up opportunities for shops and shop systems to become more agile and successful.

Daliah Salzmann and Arik Reiter

Co-Managing Directors — ECOMMERCE ONE

Quote Peter Dubens

ECOMMERCE ONE continues to drive towards becoming the leading e-commerce software provider for online merchants in the DACH region. With Marmalade and Makaira, the company strengthens its competencies in and around shop systems, and we look forward to seeing its ongoing successful expansion strategy.

Peter Dubens

Founder and Managing Partner — Oakley Capital

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Infrastructure management software leader Patchmanager and Main form strategic partnership

Infrastructure management software provider, Patchmanager, and Main Capital together form strategic partnership.

Patchmanager, a Netherlands-based supplier of innovative infrastructure management software solutions, announces a majority investment by strategic software investor Main Capital Partners. The partnership with Main reflects an important step in the future growth strategy of Patchmanager, as the company is looking to capitalize on its strong momentum and increasing position in the infrastructure management software market.

Patchmanager, founded in 2002, is a leading infrastructure management software vendor, enabling customers to plan, document, manage and maintain physical layer connectivity and assets. The solutions play a critical part in managing customers’ increasingly complex IT infrastructures. Through smart and detailed visualization solutions, customers can meticulously and continuously track and monitor their core infrastructure including (fiber) cables, data center racks, floor plans and other assets. Key use cases include data centers, offices, buildings or outside plant networks and given the nature of the solution it is applicable in virtually every industry. Example verticals where Patchmanager holds a strong position include Financial Institutions, Universities and Colleges, Airports, (Semi-)government and Industrials.

Over the past two decades, Patchmanager has developed a comprehensive, modern and scalable product which is being used by over 300 customers globally, including strong positions in Europe, UK and the US. The customer base includes both SMEs and numerous blue-chip customers such as Vodafone, Schiphol, NASA, and Inmarsat. Leveraging this momentum, Patchmanager is looking to execute an international roll-out strategy including organizational growth and increased sales & marketing efforts using both direct sales and their partner channel. Naturally, continuous product innovation remains a key pillar in this strategy. With Main, Patchmanager teams up with an experienced partner in successfully executing such strategies.

Michael Kentrop, CEO of Patchmanager states: “At Patchmanager, product excellence and customer service are at the heart of what we do and how we do it. We are driven by providing our customers with a high-quality solution that adds substantial value to their organizations. In Main we find a like-minded partner and strong ally to help extend our reach and achieve our full potential. Main’s knowledge and expertise in the software sector is second-to-none, and we look forward to a successful cooperation!”

Ivo van Deudekom, Investment Director at Main adds: “Patchmanager has been able to obtain a unique position in the DCIM market worldwide with numerous blue-chip customers who trust the company to manage their complex and critical IT infrastructure. Due to their strong product offerings and partner network, the company is able to significantly outperform the market growth rates of approximately 15%. We are confident that Patchmanager is able to continue growing at this pace in the upcoming years and we are excited to be part of their journey.”

We are confident that Patchmanager is able to continue growing at this pace in the upcoming years and we are excited to be part of their journey.

– Ivo van Deudekom, Investment Director at Main Capital Partners

About

Patchmanager

Patchmanager, founded in 2002 and headquartered in Amsterdam, is a leading infrastructure management software vendor. Its solutions support customers in planning, documenting, managing and maintaining core IT infrastructures. Specific domains covered by the software include physical layer connectivity, data center racks, cables and assets. Patchmanager has a blue-chip international customer base across various sectors such as include Financial Institutions, Universities and Colleges, Airports, (Semi-)government and Industrials. The company employs over 20 employees.

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DBAG fuels digitization and invests in AOE Group

Deutsche_Beteiligungs_AG
  • AOE Group is a leading agile software development provider with a focus on bespoke enterprise solutions
  • Seventh investment in growth sector IT services and software
  • Attractive platform for buy-and-build

Frankfurt/Main, 18 July 2023. Deutsche Beteiligungs AG (DBAG) invests in AOE Group (AOE), a leading agile software development provider with a focus on sophisticated bespoke software solutions. A private equity fund advised by DBAG will acquire the majority stake from the founders and early investors. In addition to its fund investment, DBAG will invest 10.4 million euros out of its balance sheet. The founders of AOE will remain fully committed and continue to lead the company’s expansion as significant minority shareholders. Early investor QVM will persist as a minority shareholder as well. This transaction is subject to approval by the authorities and expected to be closed in August. The parties have agreed not to disclose the terms of the sale.

Partner for individual enterprise software solutions
AOE is headquartered in Wiesbaden (Germany), employs nearly 200 highly skilled experts in agile software development and operates in a market with significant tailwinds, driven by cloud transformation, digitalization of business processes and increasingly complex data and privacy requirements. According to its motto: “Talents. Enabling. Tech.”, AOE is described by its customers as a speedboat and valued as a co-creation partner and individual software developer for complex end-to-end (frontend and backend) solutions alike. AOE has broad experience in various industries, including e-commerce, telecommunications, aviation, healthcare, manufacturing, fintech or governmental.

AOE Group, a perfect fit for DBAG
The decision to invest in AOE is rooted in the allure of the digital era, a market benefiting from strong growth and the potential for a buy-and-build strategy. Since DBAG is engaged in the growth sector of IT services and software for various years now, the company can rely on its broad network in this sector and its experience from successful prior and current investments such as Cloudflight, freiheit.com or akquinet.

“By bringing together our experience as a financial investor and the technological prowess of AOE, this investment forges a strong collaboration”, explained Jannick Hunecke, Member of the Board of Management of Deutsche Beteiligungs AG. “We recognized the continued need to integrate digital solutions seamlessly into every industry. AOE will further unlock its growth potential, and nurture a digital ecosystem”, he added.

“We are very pleased to have found such an experienced and well-established player such as DBAG to accompany us while we are heading towards the next stage of growth. We will benefit from its vast network and unparalleled expertise. Thereby, we will fortify our market position, enhance our product offerings, and drive our sustained growth in the digital era”, said Kian T. Gould, CEO, AOE Group.

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Alantra strengthens its Energy Transition offering with the creation of a highly specialized advisory business

Alantra
  • The new team led by José María Zabala (Managing Director) offers specialized advisory services to corporates willing to transform their energy models and to energy companies and investors aiming to lead the energy transition
  • The creation of this business offers strong synergies with Alantra’s investment banking and alternative asset management divisions, in which c. 70 of the Firm’s professionals are dedicated to the energy transition
  • This is a new step in creating a best-in-class cross-sector offering for energy related topics. Earlier this year, the Firm announced the hire of François de Rugy, former French energy transition minister, and Nemesio Fernandez-Cuesta, former Spanish Secretary of State for Energy and former Chairman of Eolia Renovables, as co-chairmen of Alantra’s Energy Transition Group

Madrid – Alantra, the independent global mid-market financial services firm, has created a highly-specialized Energy Transition Advisory business, which will complement Alantra’s Energy Transition Group, offering advice to corporates, energy companies and investors aiming to lead the energy transition. The business is led by José María Zabala who joined Alantra as Managing Director and has more than 15 years of international experience in strategy consulting, energy, sustainability, and climate resilience. Prior to Alantra, he co-founded energy consulting firm MRC Consultants and Transaction Advisers. Alantra aims to further strengthen the team with additional hires this year.

As energy has developed from a commodity to a strategically important asset, companies in a wide range of sectors, such as industrials, transportation, agriculture and food or tech, need an energy strategy adapted to the new reality.

Alantra created the Energy Transition Group, co-led by François de Rugy and Nemesio Fernandez-Cuesta, as a response to two macroeconomic needs:

  • to help investors, companies, and entrepreneurs looking to transform their energy models and drive sustainable innovation in clean energy technology or renewable energy infrastructure
  • to help energy companies and investors diversify their activities and portfolios, which will be key enablers for the decarbonization process

The hires for the new Energy Transition Advisory business reinforce Alantra’s position as a best-in-class player in the energy transition space, in which c. 70 of its professionals work on sustainable and green M&A deals and on raising and investing capital in clean energy infrastructure and innovation.

The Energy Transition Advisory team is already working with more than ten different clients on market advisory as well M&A and debt advisory projects, and enabling the development of solar, hybrid plants, Battery Energy Storage Systems, and renewables gases, among others. Additionally, Alantra is building an offering to help corporates invest in their decarbonization processes.

Alantra’s track record in the energy transition space includes c. 70 sustainable and green deals advised in investment banking in the past five years, including advising Audax Renovables on the origination, structuring and closing of a Market Access partnership with Shell Energy Europe; KKR on the sale of a minority stake in CMC Machinery to Amazon’s Climate Pledge Fund; Solaria on a recap refinancing of two solar PV projects; and BiFire on its IPO on Euronext Growth Milan.

In Asset Management, Alantra is currently aiming to mobilize c. €2bn for solar infrastructure and clean energy innovation, building on its experience in launching Eolia Renovables in 2007. The Alantra Solar team will develop 55 solar parks in Spain and Italy, and Klima, Alantra’s Energy Transition Fund, which closed at its €210m hard cap, has already completed five investments, including onsite power generation provider MainSpring Energy based in the US or Europe’s largest OTC energy trading platform Enmacc based in Germany.

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Joris van Aken promoted to Investment Manager at Torqx Capital Partners

Torqx Capital

We are pleased to announce the promotion of Joris van Aken to Investment Manager.

Lennert Spek, Managing Partner: “In the past years Joris has demonstrated a very strong professional development and made significant impact on several deal processes and portfolio companies; including PDG, Ocean Nutrition, Intreso and Fri Jado. He played a key role in our recent partnership with Nexio Projects and is the driving force for our Torqx Young Business Accelerator Program.

We are very proud to have Joris in our team and congratulate him on this great step in his career!”

Categories: People

Successful realization of investment in R+S Group

Deutsche_Beteiligungs_AG
  • Implementation of value enhancement strategy and first sale of an investment exclusively with funds from own balance sheet
  • Positive value contribution for DBAG in line with forecast for current financial year
  • Reinvestment of part of the proceeds in acquiring company NOKERA in order to participate in attractive and sustainable growth prospects in the market for serial construction in the long term

Frankfurt/Main, 17 July 2023. Deutsche Beteiligungs AG (DBAG) has successfully concluded its investment in R+S Group (R+S), a leading group of companies in the fields of sustainable supply technology, digital and energy-efficient solutions for sustainable building systems, trade and future-proof skilled labour. The shares in the company will be sold to NOKERA AG (NOKERA), a producer of buildings in serial and sustainable construction. DBAG had acquired the majority of the shares in R+S in March 2021, thus structuring its second Long-Term Investment, i.e. exclusively with funds from its own balance sheet. In total, DBAG has invested around 18 million euros in R+S. The proceeds from the disposal will be partially reinvested in a minority stake in NOKERA to participate in the attractive growth of the market for serial construction and serial energy-efficient refurbishment of buildings. Corresponding agreements were signed today. The closing of the transaction is still subject to the approval of the antitrust authorities.

Positive value contribution for DBAG in line with the forecast for the current financial year
The proceeds from the disposal exceed the fair value of DBAG’s Investment in DBAG’s latest half-yearly financial report (reporting date 31 March 2023). The disposal will therefore lead to an increase in net income from investment activity of approximately 14 million euros in the current third quarter of the financial year 2022/2023. This value contribution is included in the forecast for the net asset value as at 30 September 2023 and the net income for the 2022/2023 financial year, which was specified today.

Value enhancement through strengthening of equity and acceleration of successful reorganisation
The successful strategic development of R+S in the past two years was characterised by completing the already well-advanced reorganisation of the company in order to enable a basis for further profitable revenue growth. The market environment supports this positively: the trend towards smart buildings and energy-efficient buildings ensures continued growth and expands the market especially for electrical building equipment, which R+S focuses on.

Reinvestment of part of the proceeds for further participation in attractive growth prospects
DBAG is reinvesting part of the sales proceeds in NOKERA, thereby participating in the attractive growth prospects of the market for cost-efficient, sustainable and serially produced real estate. NOKERA’s highly automated serial production offers significant cost and time advantages over conventional residential construction in an ESG-friendly environment.

“The expansion of our investment strategy to invest exclusively with funds from our own balance sheet has opened up additional investment opportunities for us,” said Jannick Hunecke, member of DBAG’s Board of Management, at the signing ceremony. “We are very pleased that with our reinvestment we can participate in the attractive growth prospects of the market for cost-efficient and sustainable residential real estate and thus also invest in sustainable construction, which is driven by the ESG trend,” Hunecke continued.

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Latour invests in Quandify

Latour logo

Investment AB Latour (publ) has, through its wholly-owned subsidiary Latour Future Solutions AB, signed an agreement to invest in Quandify AB (”Quandify”).

Quandify offers intelligent water measurement systems for commercial and private buildings, enabling cost efficient analysis of water consumption, leakage detection, and remote shut off capability. The company’s cloud-based platform uses data analysis combined with a portfolio of patented sensors and a user-friendly app. The business was founded in 2017 and is headquartered in Stockholm with 20 employees.

“One of our investment areas is sustainable water usage. Quandify offers the same possibility to analyze and reduce water consumption in a building as comparable systems already in use for electricity consumption”, says Pelle Mattisson, CEO Latour Future Solutions AB.

”Our system can reduce water consumption by up to 40 per cent and consequently reduce energy consumption by 8 – 16 per cent. This enables more informed water consumption in society. With Latour as long-term partner, we can continue driving this development both internationally and within new customer segments”, says Ramtin Massoumzadeh, CEO and one of three co-founders of Quandify.

The investment will be made via a directed share issue in Quandify AB, where Latour Future Solutions AB enters as a minority owner of approximately 22 per cent of the company.

Gothenburg, 13 July 2023

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Pelle Mattisson, CEO, Latour Future Solutions AB, +46 705 80 06 57
Niclas Nylund, Investment Director, Investment AB Latour, +46 708 17 35 85

Latour Future Solutions is an investment area within Latour that targets sustainability-focused growth companies. The ambition is that the investments should contribute to increasing the pace of the transformation to a sustainable society based on all dimensions; environmental, social and economic.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 74 billion. The wholly-owned industrial operations has an annual turnover of SEK 24 billion.

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Gladstone Investment Corporation Announces Support for Fern Exposition Acquisition

Gladstone

MCLEAN, VA / ACCESSWIRE / July 12, 2023 / Gladstone Investment Corporation (Nasdaq:GAIN) (“Gladstone Investment”) announced today that it provided senior secured debt and an equity investment to support MSouth Equity Partners’ acquisition of Exposition Holdings, LLC (“Fern Exposition Services”), a leading trade show service provider and general contractor. As part of that transaction, Fern Exposition Services will join forces with Nth Degree, Inc. (“Nth Degree”), an existing MSouth and Gladstone Investment portfolio company operating in the trade show, event management, and production space, to create a substantial footprint in the experiential marketing industry.

Fern Exposition Services operates at over 1,400 trade shows and events annually as an official services provider, including multiple top-100 shows. Nth Degree offers a range of services including exhibit and event labor, installation supervision, trade show management, retail installation, and transportation to its clients spanning all industries. In addition, the company’s event division – Nth Degree Events – creates large-scale corporate meetings, user conferences, and exhibitions that drive growth and create memorable experiences for consumers and business buyers, delivering more than 4,000 different industry events, conferences, congresses, and exhibitions annually.

“Gladstone Investment has enjoyed a strong partnership with MSouth Equity Partners and Nth Degree’s management team over the last several years. Nth Degree has a strong history of growth, both organically and through acquisition, and we are very excited about the addition of Fern Exposition Services as Nth Degree continues to expand its service offering,” said Peter Roushdy, Executive Vice President and Managing Director of Gladstone Investment.

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.

Forward-looking Statements:

The statements in this press release regarding the longer-term prospects of Gladstone Investment, Nth Degree and their management teams, and the ability of Gladstone Investment and Nth Degree to grow and expand are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Investment’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Investment’s filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to update or revise these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

For further information: Gladstone Investment Corporation, (703) 287-5893

SOURCE: Gladstone Investment Corporation

View source version on accesswire.com:
https://www.accesswire.com/767058/Gladstone-Investment-Corporation-Announces-Support-for-Fern-Exposition-Acquisition

Released July 12, 2023

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