The Gladstone Capital Corporation, a McLean, VA-based business development company, has invested $8.75 million in a combination of debt and equity to facilitate the acquisition of Southern Petroleum Laboratories by a consortium of private equity buyers. Boston based private equity firm Hastings Equity Partners announced yesterday that it would investing in SPL as part of its third fund, in partnership with private equity firms Jordan/Zalaznick Advisors and the Edgewater Funds.
Gladstone backs an oil and gas deal
The Virginia BDC is providing $8.75m in equity and debt financing to Southern Petroleum Labs in its acquisition by a consortium of private equity firms.
