MCLEAN, Va., Dec. 20, 2018 (GLOBE NEWSWIRE) — Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announced today the sale of its equity interest and the prepayment of its debt investment in Cambridge Sound Management, Inc. (“Cambridge Sound”) to Biamp Systems, a leader in professional audio/video solutions and a portfolio company of Highlander Partners, L.P. As a result of this transaction, Gladstone Investment realized a significant gain on its equity investment. Gladstone Investment acquired Cambridge Sound in partnership with Boston Harbor Capital in 2014.

Cambridge Sound, headquartered in Waltham, MA, is the world’s largest supplier of sound masking solutions. Cambridge Sound designs and manufactures next generation sound masking solutions to help companies create a more comfortable, secure, and productive workplace.

“Gladstone Investment has enjoyed a strong partnership with Cambridge Sound’s management team over the last several years. We are proud to have supported the business through a period of rapid growth, both organically and through acquisition,” said Erika Highland, Managing Director of Gladstone Investment.  “Christopher Calisi, CEO, and Meghann Ellis, CFO, and the entire management team have achieved outstanding results in both growing and transforming the business and we wish them continued success.”

“With the sale of Cambridge Sound and from inception in 2005, Gladstone Investment has exited 15 of its management supported buy-outs, generating significant net realized gains on these investments,” said David Dullum, President of Gladstone Investment. “Our strategy and capability as a buyout fund and our investment approach of realizing gains on equity, while generating strong current income during the investment period provides meaningful value to shareholders.”

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

For Investor Relations inquiries related to any of the monthly distribution-paying Gladstone family of funds, please visit www.gladstone.com.

Forward-looking Statements:

The statements in this press release regarding the longer-term prospects of Gladstone Investment and Cambridge Sound and its management team, and the ability of Gladstone Investment and Cambridge Sound to be successful in the future 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 beliefs 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.

SOURCE:  Gladstone Investment Corporation

For further information: Gladstone Investment Corporation, 703-287-5810

Source: Gladstone Investment Corporation

SAN FRANCISCO, CA. and MANDEVILLE, LA., November 30, 2018 – Thoma Bravo, a leading private equity investment firm focused on software and technology-enabled services, announced that it has agreed to acquire PEC Safety, a rapidly growing contractor management software and safety learning content provider that helps both hiring clients and contractors manage risk, safety, and compliance. The investment recognizes PEC’s strong momentum and is expected to help the company broaden its software and content offerings. As part of the agreement, the company’s management team and founders will retain a minority stake in the business.

Founded in 1993, PEC Safety is one of the largest contractor management networks in the world, enabling clients to hire and manage safe and qualified contractors through a centralized cloud-based software system. In addition, PEC provides licensed proprietary safety learning content to a network of more than 3,000 authorized instructors who conduct over 235,000 training sessions per year. PEC, with its unique combination of a contractor management software platform and proprietary training content, has distinguished itself as a rapidly growing, market leader within the energy industry. PEC currently serves over 110 operators and 15,000 contractors in its mission to bring workers home safely from high-hazard jobs through prioritizing training and contractor management.

“PEC Safety’s partnership with Thoma Bravo will enable us to deepen our core capabilities and expand into other verticals, advancing PEC’s mission to reduce risks and increase safety for workers in hazardous jobs,” said Colby Lane, CEO of PEC Safety. “PEC Safety will benefit enormously from Thoma Bravo’s expertise at implementing operating best practices and investing in new product functionality and features that will continue to scale the network.”

Contractor risk exposure is increasingly being recognized as a top concern in PEC’s core market, the energy industry, as well as other verticals such as construction, manufacturing, transportation and facilities management. PEC is positioned to capitalize on the compelling industry tailwinds by offering mission-critical software and learning solutions that help companies save time, hire confidently, and most importantly improve safety conditions for their workers.

“Thoma Bravo believes there is tremendous growth potential for the innovative risk, compliance and safety solutions developed by the talented team at PEC, led by Colby Lane,” said Hudson Smith, a Partner at Thoma Bravo. “Operators are increasingly realizing that they cannot simply outsource risk management to their contractors and instead need to put in place robust technology and learning solutions that provide assurance they are working with highly-trained, well-qualified and responsible contractors.”

Thoma Bravo has provided equity and strategic support to experienced management teams of growing companies for nearly thirty-five years. The firm has extensive expertise investing in risk, compliance, safety and supply chain management software companies, including Riskonnect, Sparta Systems, Global Healthcare Exchange and iPipeline, as well as energy-focused software companies such as Quorum Software.

PEC Safety was advised by William Blair & Company and Goodwin Procter LLP. Thoma Bravo was advised by Raymond James & Associates and Kirkland & Ellis LLP.

Toronto, November 27, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it has completed the acquisition of KidsFoundation Holdings B.V. (“KidsFoundation”), the largest childcare provider in the Netherlands.
In total, the Onex Partners Group invested approximately $172 million, which includes capital from both Onex Partners IV and V. Onex’ portion of the investment was $48 million as a Limited Partner in the Funds. Onex will now begin accruing fees on Onex Partners V, with annualized private equity fees expected to increase by more than $50 million.

About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $33 billion of assets under management, including $6.9 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $52 billion, generate annual revenues of $32 billion and employ approximately 218,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

For further information:
Emilie Blouin
Director, Investor Relations
Tel: 416.362.7711