Foley & Lardner LLP served as U.S. legal advisor to Pyrotek Special Effects, Inc., an Ontario-based pioneer in live entertainment for special effects services and solutions, in its acquisition by Gladstone Investment Corporation (NASDAQ:GAIN). To complete the acquisition of this new portfolio company, Gladstone Investment partnered with long-time Pyrotek CEO & President Scott Dunlop, who will remain in those roles. Gladstone Investment provided equity and senior secured debt to complete the transaction.
Pyrotek is a leading provider of special effects services and solutions for the live entertainment industry, with a full range of special effects offerings, creative and technical design services, permitting and logistics support worldwide, and specialized installation, setup, and tear down. Pyrotek’s customer base consists of the largest names in global music and entertainment, professional sports leagues, marquee music festivals, award shows, and globally recognized media and entertainment brands.
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in connection with acquisitions, changes in control, and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.
The Foley deal team was led by partner Chris Rasmussen, with key support from M&A associates Sean Aguirre and Chase Oriji, as well as partners Belinda Morgan, John Litchfield, James Howard, and Ethan Lenz.
