Gladstone Investment Corporation Invests in LogoSportswear
MCLEAN, Va., March 9, 2015 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today that on March 6, 2015, it invested an aggregate of $11.4 million in a combination of debt and equity to purchase LogoSportswear, Inc. ("LogoSportswear"), a business unit of Cafepress, Inc. (Nasdaq:PRSS). Gladstone Investment partnered with Digital Fuel Capital ("Digital Fuel"), a private equity firm focused on e-commerce and digital marketing, and LogoSportswear's existing management team on the transaction.
Founded in 1995 and based in Cheshire, CT, LogoSportswear is an online provider of user-customized uniforms and apparel for teams, leagues, schools, businesses and organizations. The business sells products online through three core brands: LogoSportswear, TeamSportswear, and TFUND.
"We are thrilled to be partnering with Digital Fuel on another e-commerce platform investment. The management team at LogoSportswear has done an incredible job growing this business and we look forward to working with Digital Fuel to support continued growth," said Kyle Largent, a Managing Director of Gladstone Investment.
"LogoSportswear's product selection, printing options and easy-to-use design tools differentiate it in the custom group apparel market," said Carson Biederman, President of Digital Fuel. "We look forward to working with Gladstone and the team at LogoSportswear to expand the companies' offerings in custom team wear, work wear and spirit wear through both organic growth and acquisitions of other leaders in customer apparel."
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information on the transaction 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 the longer-term prospects of LogoSportswear and its management team, and the ability of LogoSportswear to grow and expand 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 plans 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 publicly release the result of any revisions to these forward looking statements that may be made to reflect any future events or otherwise, except as required by law.
CONTACT: Gladstone Investment Corporation, 703-287-5893
Released March 9, 2015