Gladstone Investment Corporation to Acquire Ricardo Defense Business

Gladstone Investment Corporation, in partnership with Proteus Enterprises LLC, has announced a definitive agreement to acquire Ricardo Defense, Inc. (RDI). This deal, signed on December 13, 2024, is expected to close by the end of the year, pending customary conditions. The acquisition will be financed through equity and secured debt provided by Gladstone Investment.

RDI, located in Troy, Michigan, specializes in engineering services and systems integration, aiding the Department of Defense in technical solutions. Christopher Lee, Senior Managing Director, expressed enthusiasm about collaborating with RDI to enhance its market presence and customer solutions.

David Dullum, President of Gladstone Investment, highlighted the acquisition's potential to generate income and long-term capital gains for shareholders. Gladstone Investment focuses on equity and debt investments in lower middle market businesses. More details are available on their website.