Noble Logistics, Inc. Sold to Gladstone Investment Corporation Under Chapter 11 of the United States Bankruptcy Code
HOUSTON, August 26, 2014 - GulfStar Group ("GulfStar") is pleased to announce the sale of Noble Logistics, Inc. ("Noble" or the "Company") to NDLI Inc (“NDLI”), an acquisition entity created by Gladstone Investment Corporation (NASDAQ: GAIN), through a process administered under Chapter 11 of the United States Bankruptcy code. GulfStar served as the exclusive intermediary to Noble throughout the transaction, which closed on May 8, 2014.
Noble is a national logistics provider of time critical delivery services to the automotive, healthcare and retail industries. The Company’s asset-light model utilizes third party subcontractors to provide multiple service lines, supported by in-house driver dispatch, route optimization, warehouse cross-docking and client service. Noble was founded in 1995 and is based in Houston, TX.
The management team is excited to join the GAIN portfolio of companies with a renewed focus on expanding the business. “The support provided by the GulfStar team drove an effective marketing and sale process of the company allowing us to achieve our goal of selling the business,” said NDLI CFO/CTO John Hense. “Having a dedicated team that is knowledgeable about the industry and its players is critical to a successful sale process.”
Gladstone Investment Corporation (NASDAQ:GAIN) is one of The Gladstone Companies' family of publicly traded investment funds, which currently total approximately $1.4 billion of assets under management. The Gladstone Companies have invested since 2001 in both private equity sponsored and owner-operated middle market businesses.
The GulfStar team included Managing Director Bryan Frederickson, Senior Vice President Brian Lobo and Associate Ben Stanton.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 600 transactions in more than 30 states and 10 foreign countries across a variety of industries.
For additional information please contact firstname.lastname@example.org