Welcome!

News Feed Item

Gladstone Capital Corporation Invests $14 Million in Ag Trucking, Inc.

MCLEAN, Va., Dec. 26, 2012 /PRNewswire/ -- Gladstone Capital Corporation (NASDAQ: GLAD) ("Gladstone Capital") announced today that on December 24, 2012 it invested $14 million through a combination of debt and equity in Ag Trucking, Inc. The investment in Ag Trucking was sponsored by 3.5.7.11 Investments.

(Logo:  http://photos.prnewswire.com/prnh/20101005/GLADSTONECAPITAL )

Ag Trucking, led by CEO Tim Boehlke, is a regional food-grade liquid and dry bulk carrier based in Goshen, Indiana.  The company was founded in 1978. Ag Trucking serves large international agricultural and food manufacturing firms out of its five terminals in the Midwest and Southeastern United States.  Ag Trucking's services are critical to their customers' ability to maintain tight production schedules.

"Gladstone Capital is excited about investing in Ag Trucking.  The company has a stable business model with many opportunities for growth," said Chip Stelljes, President of Gladstone Capital.

"This is our first investment with 3.5.7.11 Investments. Its principal, Dale LeFebvre, is an experienced investor with a track record of growing businesses. We look forward to working with him on this and many other transactions," said John Freal, Managing Director of Gladstone Capital.

"Ag Trucking is a leader in the bulk transportation industry, serving a niche market with a reputation for superior quality for over 30 years.  We look forward to working with Gladstone Capital, a world-class business development firm, again in the future, as we pursue our strategy of acquiring small to medium-size companies with excellent management teams and significant market share in important niche areas," said Dale LeFebvre, Chairman of 3.5.7.11 Investments.  Ag Trucking is the second acquisition by Mr. LeFebvre and 3.5.7.11 Investments in less than a year.          

Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities consisting primarily of senior term loans, second lien term loans, and senior subordinated term loans in small and medium-sized U.S. businesses. Gladstone Capital has paid 110 consecutive monthly cash distributions on its common stock. Before paying monthly distributions on the common stock, Gladstone Capital paid eight consecutive quarterly cash distributions. 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.

Forward Looking Statements:

The statements in this press release regarding opportunities for growth, potential future transactions with the sponsor and other statements that are not historical facts are "forward-looking statements." These forward-looking statements inherently involve certain risks and uncertainties, although they are based on Gladstone Capital's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause Gladstone Capital's actual results to differ from these forward-looking statements include, among others, the duration and effects of the current economic instability, Gladstone Capital's ability to access debt and equity capital, Gladstone Capital's ability to identify and make investments that are consistent with its investment objectives and those other factors listed under the caption "Risk Factors" in Gladstone Capital's annual report on Form 10-K (the "Form 10-K") filed on November 13, 2012 (File No. 814-00237) and Gladstone Capital's  registration statement on Form N-2 (the "Form N-2") filed on November 29, 2012 (File No. 333-185191). The risk factors set forth in the Form 10-K and the Form  N-2 under the caption "Risk Factors" are specifically incorporated by reference into this press release. Gladstone Capital undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Gladstone Capital Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ar...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Karthik Lalithraj, a Principal Solutions Architect at Kinetica, discussed how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich...
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...