Gladstone invests $5.5M to purchase US steel container supplier Behrens

By VCPOST Staff Reporter

Dec 17, 2013 01:11 AM EST

Gladstone Capital Corporation announced that it poured in $5.5 million in combined debt and equity for the acquisition of Behrens Manufacturing LLC. This was according to a press release report published by 4 Traders.

Gladstone Investment Corporation, an affiliate of Gladstone Capital, is a co-investor in the said transaction. The former provided $12.9 million in debt and equity to finance the deal, the report detailed.

Gladstone Private Finance Director Kipp Kranbuhl said of the deal, "Gladstone is proud to be partnering with the talented and experienced management team at Behrens to help it continue to build on the growth that it has achieved over the past several years.  We look forward to working with yet another great American company, and to helping Behrens' management team build on its impressive history of producing high quality products in the United States" 

Behrens is a Winona, Minnesota-based company that manufactures and markets high quality utility products and containers. The firm is the top supplier of pails, tubs, watering cans, and steel cans in North America. The company was founded in 1911, the report said.

Gladstone Capital Corporation is a Virginia-based business development firm that invests in debt and equity securities in small and medium sized enterprises in the US. Gladstone is a publicly traded company, the press release on 4 Traders read.

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