Deal Details

Nocturne Sells Majority Stake to Calera

Technology & Services

Nocturne, a portfolio company of Gladstone, sale of majority stake to Calera

Summary

Nocturne Luxury Villas (“Nocturne” or the “Company”), a portfolio company of Gladstone Investment Corporation (“Gladstone”), has sold a majority stake to Calera Capital (“Calera”). Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to Nocturne on this transaction.

About

Nocturne Luxury Villas is a global luxury vacation rental management (“VRM”) company. With operations in St. Barth’s, Grand Cayman, Telluride, CO, Cabo San Lucas, MX, Santa Barbara, CA and Florida’s Emerald Coast, the Company has acquired and fully integrated seven operators to create a leading platform in the sector. Nocturne is headquartered in Newport, Rhode Island.

Gladstone Investment Corporation 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. Gladstone is headquartered in McLean, Virginia.

Founded in 1991, Calera Capital is a private investment firm that has invested over $4.9 billion in equity capital. With offices in Boston and San Francisco, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: Business Services and Specialty Industrials. Calera makes substantial investments in middle-market businesses and works closely in support of management to build long-term sustainable value through the implementation of operating and strategic initiatives. Calera is headquartered in San Francisco, California.

Technology & Services

Nocturne, a portfolio company of Gladstone, sale of majority stake to Calera