ACCESS Newswire
08 Jun 2021, 18:13 GMT+10
MCLEAN, VA / ACCESSWIRE / June 8, 2021 / Gladstone Investment Corporation (NASDAQ:GAIN) ('Gladstone Investment') announced today that on June 3, 2021, it partnered with Aureus Capital, LLC ('Aureus Capital') and members of the executive management team in the formation of Nocturne Villa Rentals, Inc. ('Nocturne'), a platform for acquiring and integrating luxury vacation rental management ('VRM') companies. Gladstone Investment provided equity and senior secured debt to complete the transaction.
Nocturne was founded by Scott Simmons and Marshall Calder, who will serve as Chief Executive Officer and President of Nocturne, respectively, bringing with them decades of experience in the luxury hospitality industry. To build out its corporate infrastructure, Nocturne hired Carl Colletti to serve as its Chief Financial Officer. Mr. Colletti has 25 years of executive experience in leading and growing businesses, serving as CFO or in other senior leadership roles.
Nocturne partnered with members of executive management in the acquisition of Exceptional Stays, LLC ('Exceptional Stays'). Exceptional Stays is a leading VRM with approximately 90 luxury properties, primarily in Telluride, Colorado. Exceptional Stays operates exclusively managed properties and provides best-in-class hospitality and property management services to its rental guests and property owners alike.
'We're very excited to partner with Aureus Capital and the talented teams at Nocturne and Exceptional Stays. We believe Exceptional Stays' high-end portfolio of luxury properties and best-in-class service offering make it an ideal initial investment for this platform as we look to integrate future acquisitions under the Nocturne umbrella,' said Peter Roushdy, Executive Vice President and Managing Director of Gladstone Investment.
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in the United States in connection with acquisitions, changes in control, and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.GladstoneCompanies.com.
Forward-looking Statements:
The statements in this press release regarding the longer-term prospects of Nocturne and its management team, Exceptional Stays and its management team, and the ability of Nocturne and Exceptional Stays 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.
For further information: Gladstone Investment Corporation, 703-287-5893
SOURCE: Gladstone Investment Corporation
Get a daily dose of Atlanta Leader news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Atlanta Leader.
More InformationWASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...