Gladstone Capital Corporation has invested $19.5 million in Allen Edmonds Shoe Corporation by purchasing a loan from one of Allen Edmonds existing lenders.
Founded in 1922, Allen Edmonds, a Goldner Hawn Johnson & Morrison (“Goldner Hawn”) portfolio company, manufactures premium men’s footwear and accessories. An iconic American brand, Allen Edmonds employs a proprietary 212-step process to handcraft shoes and boots in its Port Washington, Wisconsin manufacturing facility. Allen Edmonds products are available at upscale stores worldwide, including 43 Allen Edmonds stores across the United States.
“Gladstone Capital is excited about supporting Allen Edmonds and Goldner Hawn in this investment. Allen Edmonds is a strong, premium brand with an outstanding reputation for superior quality and excellent service,” said Chip Stelljes, President of Gladstone Capital.
“We have had a long relationship with Goldner Hawn and are pleased to continue the relationship by supporting one of their portfolio companies,” said John Freal, Managing Director of Gladstone Capital.
Gladstone Capital Corporation is a publicly traded business development company that invests in debt and equity securities consisting primarily of senior term loans, second term lien loans, and senior subordinated term loans in small and medium-sized U.S. businesses. Gladstone Capital has paid 110 consecutive monthly cash distributions on its common stock. Before paying monthly distributions on the common stock, Gladstone Capital paid eight consecutive quarterly cash distributions.
