Marriott & Co. Serves as Exclusive Financial Advisor to TREAD Corporation
Richmond, Va. — Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as the exclusive financial advisor to TREAD Corporation (“TREAD” or the “Company”), a portfolio company of Gladstone Investment Corporation (NASDAQ: GAIN)(“Gladstone”), in its sale to Larsen MacColl Partners (“Larsen MacColl”), a private equity firm based in Wayne, PA. Debt financing and an equity co-investment were provided by Source Capital, a private equity firm based in Atlanta, GA. The transaction closed on April 5, 2019. Terms of the transaction were not disclosed.
Headquartered in Roanoke, VA, TREAD is a leading manufacturer of highly-engineered custom bulk explosive handling trucks, emulsion mixing plants, storage bins and other related products. The Company provides its products to a global customer base of explosive handling companies serving the mining and construction industry in more than 50 countries across six continents. In addition to its Roanoke headquarters, TREAD maintains sales and service operations in Australia, Chile, South Africa and Peru.
“I would like to thank the Marriott & Co. team for their professionalism, guidance and commitment throughout this process,” said David Glazer, “Their entire team played a critical role in ensuring that TREAD found new partners that positions the company well for the future.”
Justin Marriott, Managing Director of Marriott & Co., said, “It was an absolute pleasure representing Gladstone and TREAD on this very important transaction. We were honored to be provided the opportunity to help create a great outcome for all parties involved.”
About TREAD Corporation:
Founded in 1957, TREAD Corporation offers over sixty years of service and solutions in explosives storage, handling and delivery systems to the global mining, quarry and construction industries. TREAD offers its customers an innovative portfolio of high-quality products and proven technical acumen, in addition to aftermarket parts and service. The Company manufactures custom bulk explosive handling trucks, storage bins, emulsion mixing plants and ancillary equipment. Its customers are all over the world, across over 50 countries and six continents. The Company is headquartered in Roanoke, VA, and also maintains sales and service operations in Australia, Chile, South Africa and Peru. For more information, please visit www.treadcorp.com.
About Gladstone Investment Corporation:
Gladstone Investment Corporation (NASDAQ: GAIN) is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market private businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information can be found at www.gladstoneinvestment.com.
About Marriott & Co.:
Headquartered in Richmond, VA, Marriott & Co. (www.marriott-co.com) is a premier, independent boutique investment-banking firm focused on advising privately-held companies across a wide variety of industries. The firm provides merger and acquisition advisory and capital raising services primarily to family-held businesses and entrepreneurial business owners in the middle market. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies and their owners today. By delivering senior banker attention, a high-touch approach to client service and best-in-class process execution to every assignment it undertakes, Marriott & Co. has established a long track record of closing successful transactions for clients all over the U.S.
Contact: Justin Marriott
Phone: (804) 344-0952