Boothwyn, PA - January 7, 2025

Gladstone Investment Corporation (Nasdaq: GAIN) ("Gladstone Investment") is pleased to announce its acquisition of Nielsen-Kellerman, Inc. ("Nielsen-Kellerman" or the “Company") on December 19, 2024. This transaction was executed in collaboration with Nielsen-Kellerman's executive leadership team, with Gladstone Investment providing both equity capital and senior secured debt to facilitate the acquisition.

Nielsen-Kellerman designs, manufactures, and distributes a wide range of rugged, waterproof environmental measurement and sports performance instruments. The Company's product line serves a broad spectrum of users, from outdoor enthusiasts and competitive athletes to professionals in specialized technical fields, all of whom rely on the Company's precision instruments in challenging environments.

Erika Highland, Senior Managing Director of Gladstone Investment, expressed enthusiasm about the acquisition: "Nielsen-Kellerman's track record of innovation and their unwavering commitment to product excellence make them an ideal addition to Gladstone’s portfolio. Their unique position in the market, coupled with their reputation for creating durable, high-performance instruments, presents exciting opportunities for growth. We're eager to leverage our resources and expertise to help the Company expand its market reach and enhance its product offerings."

"We are thrilled to join forces with Gladstone Capital to drive NK’s next phase of growth," said Chuck Arkell, CEO of NK. "Their commitment to supporting innovative, market-leading companies complement our vision for expanding product lines, enhancing customer experiences, and expanding to new markets. This partnership positions us to deliver even greater value to our customers and stakeholders."

David Dullum, President of Gladstone Investment, added, "This buyout aligns well with our investment thesis of acquiring companies with the stability of meaningful brands and an experienced management team as well as exciting growth opportunities to create long-term value for our shareholders."

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.