Gladstone Investment Supports Add-on Acquisition for Portfolio Company Nocturne Villa Rentals, Inc.
ACCESSWIRE
30 Jul 2021, 06:43 GMT+10
MCLEAN, VA / ACCESSWIRE / July 29, 2021 / Gladstone Investment Corporation (Nasdaq:GAIN) ('Gladstone Investment') announced today that on July 23, 2021, it made an additional secured debt investment in its portfolio company Nocturne Villa Rentals, Inc. ('Nocturne') to acquire St. Barth Properties, Inc. and St. Barth Dream Vacations, SARL (collectively referred to as 'SBP').
Nocturne partnered with members of SBP's executive management in the acquisition of SBP, representing Nocturne's second acquisition since inception after acquiring Telluride, Colorado-based Exceptional Stays, LLC ('Exceptional Stays') in June 2021. Founded in 1989, SBP is based in Franklin, MA, with an office in St. Barth, and is one of the leading vacation rental management ('VRM') companies on the island. SBP has a portfolio of over 250 luxury properties on St. Barth and is known for providing best-in-class hospitality services to its guests and property owners alike.