Gladstone Acquires Frontier Packaging
Gladstone Investment Corporation, through a combination of debt and equity consisting of $16.5 million in a revolving line of credit, senior term loan, preferred equity and common equity, acquired Frontier Packaging, Inc. in partnership with the executive management team. The transaction was completed in November 2012.
Frontier, founded in 1985, is headquartered in Seattle, WA, and is a supplier of a range of time sensitive packaging materials to the Alaskan seafood market.
“Gladstone Investment is excited about partnering with this talented and experienced management team. Frontier has an impressive track record of high customer satisfaction and we look forward to supporting management as they continue to build on that track record,” said Dave Dullum, president of Gladstone Investment.
Provider in private equity, debt and real estate ownership and financing, the Gladstone Companies are a family of public and private investment funds.