Gladstone Investment Invests $16.3 Mln In Alloy Die Casting

(RTTNews) - Gladstone Investment Corp. (GAIN) announced that on Tuesday, it invested $16.3 million in a combination of debt and equity to purchase Alloy Die Casting Co. or "ADC".

Gladstone Investment's affiliated company, Gladstone Capital Corp. (GLAD) participated as a co-investor by providing $7.0 million of debt and equity financing on the same terms as Gladstone Investment in support of the acquisition.

Founded in 1946 and headquartered in Buena Park, CA, ADC is a manufacturer of high quality, finished aluminum and zinc castings for aerospace, defense, aftermarket automotive and industrial applications. ADC provides its customers with engineering support and custom tool design and fabrication as well as in-house machining and finishing capabilities.