News

D.A. Davidson Serves as Financial Advisor to The Maids International, LLC in Sale to Gladstone Investment Corporation

March 10, 2020

D.A. Davidson & Co. announced today that it has served as exclusive financial advisor to The Maids International, LLC, a leading franchisor of residential cleaning services under the nationally recognized brand “The Maids,” in its sale to Gladstone Investment Corporation (Nasdaq: GAIN), a publicly traded business development company.

Gladstone Investment partnered with Dan Kirwan, a longtime executive of The Maids, in the acquisition. Gladstone Investment provided the equity and senior secured debt to complete the transaction. Kirwan will be President and Chief Executive Officer post-closing.

Founded over 40 years ago in Omaha, Nebraska, The Maids is the quality leader among house-cleaning services, with franchise and company-owned locations in over 40 U.S. states and three Canadian provinces.

“We were pleased to work with The Maids and look forward to following the company’s ongoing success as a leading residential cleaning franchisor. This is an exciting transaction for the company, which is partnering with a financial sponsor that has tremendous experience and a proven track record growing companies in the middle market,” said Eric Rindahl, Managing Director of Investment Banking at D.A. Davidson.

“The Maids is a brand with an outstanding legacy and reputation in its market. We look forward to working with the management team and our investment partner, Dan Kirwan, to build on that foundation as The Maids enters its next phase of growth,” said Erika Highland, Managing Director of Gladstone Investment.

“Having been with The Maids for 20 years, I am truly excited to partner with Gladstone Investment for this next chapter of growth. The team at D.A. Davidson did a great job understanding our brand and positioning the company based on the quality we bring to not only our customers but our franchisee partners as well,” Kirwan said.

The company will continue to be headquartered in Omaha. Koley Jessen served as legal counsel to The Maids; Blank Rome served as legal counsel to Gladstone Investment.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has approximately 1,400 employees and offices in 26 states.

Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

For more information, visit dadavidson.com.