NEW YORK Alloy
Die Casting Co. (ADC) has been acquired by Gladstone Investment
Corp. for $16.3 million.
Corp., an affiliated company, provided $7 million in
debt-and-equity financing in support of the acquisition.
Calif.-based ADC is a manufacturer of finished aluminum and
zinc castings for aerospace, defense, aftermarket automotive
and industrial applications. It also provides engineering
support and custom tool design and fabrication as well as
in-house machining and finishing capabilities.
is excited to partner with ADCs talented and experienced
management team," Greg Bowie, director of private finance for
Gladstone Management Corp., Gladstone Capitals affiliated
investment advisor, said in a statement. "We look forward to
the continued growth of the business and building upon the
success of the management team over the past few years."
Gladstone Investment is a publicly traded business development
company that invests in debt and equity securities, consisting
primarily of senior term loans, second term lien loans and
senior subordinated term loans, in small and medium-sized
businesses in the United States.