Daily News: December 20, 2012

Gladstone Capital Invests $19.5 Million in Allen Edmonds


Gladstone Capital Corporation announced that on Dec. 19, 2012, it invested $19.5 million in Allen Edmonds Shoe Corporation by purchasing a loan from one of Allen Edmonds’ existing lenders.

Allen Edmonds, a Goldner Hawn Johnson & Morrison portfolio company, manufactures men’s footwear and accessories.

“Gladstone Capital is excited about supporting Allen Edmonds and Goldner Hawn in this investment. Allen Edmonds is a strong, premium brand with an outstanding reputation for superior quality and excellent service,” said Chip Stelljes, president of Gladstone Capital.

“We have had a long relationship with Goldner Hawn and are pleased to continue the relationship by supporting one of their portfolio companies,” said John Freal, managing director of Gladstone Capital.

Gladstone Capital is a 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 U.S. businesses.