NEW YORK Alloy Die Casting Co. (ADC) has been acquired by Gladstone Investment Corp. for $16.3 million.
Gladstone Capital Corp., an affiliated company, provided $7 million in debt-and-equity financing in support of the acquisition.
Buena Park, 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.
"Gladstone Investment 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."
McLean,Va.-based 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.