Chairman of the Board of Directors and Chief Executive Officer

Mr. Gladstone is the founder of The Gladstone Companies and has been the Chief Executive Officer since inception.

From August 1997 to August 2001, Mr. Gladstone served as Chairman or Vice Chairman of American Capital Strategies; a publicly-traded leveraged buyout fund and mezzanine debt finance company. From 1974 to February 1997, Mr. Gladstone held various positions, including Chairman and Chief Executive Officer, with Allied Capital Corporation, Allied Capital Corporation II, Allied Capital Lending Corporation, Allied Capital Commercial Corporation and Allied Capital Advisors Inc. Under his leadership at Allied, the Company grew assets from $10MM to $750MM.  During this period, the company experienced 18 consecutive years of increasing shareholder dividends with less than 1% of assets written off. The Allied companies were the largest group of publicly-traded mezzanine debt funds and were managers of two private venture capital limited partnerships. During the period from 1982-1997, shareholder IRR returns averaged 22.4%. From 1992 to 1997, Mr. Gladstone served as a Director, President and Chief Executive Officer of Business Mortgage Investors, a private mortgage REIT managed by Allied Capital. Mr. Gladstone is the author of Venture Capital Investing and Venture Capital Handbook (Prentice Hall). Mr. Gladstone received a MA from American University, a BA in Government and Economics from the University of Virginia and obtained an MBA from Harvard Business School.

Vice Chairman and Chief Operating Officer

Mr. Brubaker has been the Vice Chairman and Chief Operating Officer of The Gladstone Companies since May 2001. At Gladstone, Mr. Brubaker is responsible for Portfolio Management and due diligence. He is actively engaged with portfolio companies and actively collaborates with management teams, sponsors and lenders.

Beginning in March 1999, Mr. Brubaker was a founder and Chairman of Heads Up Systems, a company providing process industries with leading edge technology. From 1996 to 1999, Mr. Brubaker served as Vice President of the paper group for the American Forest & Paper Association. From 1992 to 1995, Mr. Brubaker served as President of Interstate Resources, a pulp and paper company. From 1991 to 1992, Mr. Brubaker served as President of IRI, a radiation measurement equipment manufacturer. From 1981 to 1991, Mr. Brubaker held several management positions at James River Corporation, a forest and paper company, including Group Vice President of two operating units. During his tenureat the firm, Mr. Brubaker was on the team responsible for evaluating and incorporating many of James River's 35 acquisitions. From 1976 to 1981, Mr. Brubaker was Strategic Planning Manager and Marketing Manager at Boise Cascade. Previously, Mr. Brubaker was a Senior Engagement Manager at McKinsey & Company from 1972 to 1976. Mr. Brubaker received a BSE in Aerospace and Mechanical Sciences from Princeton University and obtained an MBA from Harvard Business School.

President and Chief Investment Officer

Mr. Stelljes is the President, Chief Investment Officer and a Director of The Gladstone Companies. Mr. Stelljes has extensive experience with debt, equity, and real estate investments in small and medium sized companies across the United States. At Gladstone, Mr. Stelljes is responsible for operational activities, directing marketing strategy, deal flow generation and underwriting.

Prior to joining Gladstone, Mr. Stelljes was a General Partner of Camden Partners and Cahill, Warnock & Company, later stage private equity funds, where he directed investments in communications and business services. Previously, Mr. Stelljes served as a Managing Director and Partner of Columbia Capital, a venture capital firm focused on investments in communications and information technology. From 1989 to 1997, Mr. Stelljes held various positions including Executive Vice President and Principal with Allied Capital Corporation and its affiliates where he managed the firm's two private equity partnerships and served on its Investment Committee.  The Allied companies were the largest group of publically-traded mezzanine debt funds.

Mr. Stelljes currently serves as a General Partner and Investment Committee Member of Patriot Capital, manager of private equity and mezzanine funds, is a Board Member of Intrepid Capital, a money management and mutual fund manager, and is an Advisory Board Member of FedCap Partners, a private equity fund focused on investments in government contractors. He is a former board member and regional president of the National Association of Small Business Investment Companies (NASBIC). Mr. Stelljes received a BA in Economics from Vanderbilt University and an MBA from the Darden School at the University of Virginia.

Senior Managing Director, Private Finance
McLean, VA Office
 

Mr. Dullum joined The Gladstone Companies in February 2008. He currently serves as Senior Managing Director in our McLean, VA Headquarters focusing on debt and equity investments. Mr. Dullum has extensive experience in equity investing and middle market buyouts.

Prior to joining Gladstone, Mr. Dullum was a General Partner of Chicago-based Frontenac Company, from 1976 to 1990. He currently serves as a General Partner of New England Partners, a Boston-based private equity fund. Mr. Dullum is also the President and Director of Harbor Acquisition Corp., a Special Purpose Acquisition Corporation listed on AMEX. Mr. Dullum is a former member of the Board of Governors and former Chairman of the National Association of Small Business Companies (NASBIC) and a former Trustee of the Stanford Business School Trust. Mr. Dullum received a BME from the Georgia Institute of Technology and an MBA from the Stanford Graduate School of Business. 

Mr. Cooper joined The Gladstone Companies in June 2001. He currently is a Managing Director of Gladstone Commercial where he is responsible for identifying, underwriting, managing, financing and servicing the firm's commercial real estate investment projects.

Prior to joining the firm, Mr. Cooper served as a Senior Vice President or Principal of Allied Capital Corporation and its affiliate funds from 1986 - 2000. At Allied Capital, Mr. Cooper was responsible for servicing all forms of commercial real estate. During his time at Allied Capital, Mr. Cooper also administered an investment portfolio of over $250 million. Mr. Cooper received a BA in Sociology and Anthropology from Washington and Lee University.

Mr. Daniel joined The Gladstone Companies in July 2011. He currently serves as a Managing Director in our Los Angeles, CA office focusing on debt and equity investments in privately held companies. Mr. Daniel has extensive experience in sourcing, structuring, negotiating and managing debt and equity transactions for middle market companies.

Prior to joining Gladstone, Mr. Daniel was a Managing Director of Churchill Financial Group, a $2 billion commercial finance company providing capital to middle market companies. Prior to this, Mr. Daniel was a Managing Director of Praesidian Capital, a $160 million private fund focused on mezzanine investing and was a Principal of Windjammer Capital Investors, a $800 million family of private funds focused on mezzanine and equity investing. Earlier in his career Mr. Daniel worked in the leveraged buyout finance group of Citicorp Securities and was a consultant for Kenneth Leventhal and Company (now Ernst & Young) in the management services group. Mr. Daniel has been active on numerous private company boards and is currently Chairman of a third party logistics company and a Director of an automotive emissions testing company. Mr. Daniel received a BA in Economics from the University of California, Los Angeles (UCLA) and obtained an MBA in Finance from the Anderson School at UCLA.

Mr. Freal has been with The Gladstone Companies since February 2002. He currently serves as a Managing Director in our McLean, VA Headquarters focusing on debt and equity investments in privately held companies. Mr. Freal has extensive experience in sourcing, structuring and negotiating preferred equity and mezzanine debt transactions for small and medium sized businesses.

Prior to joining Gladstone, Mr. Freal was a Managing Director of American Capital Strategies. From 1995 through 1997 he was a private investor and financial consultant. From 1989 to 1995, Mr. Freal was President of RDS Capital Partners, a private merchant banking company that he co-founded to acquire middle-market commercial and industrial companies. Prior to founding RDS, he was employed by several Washington D.C. area and Philadelphia banks as a Loan Officer providing general corporate and buyout financing to middle-market and national companies. Mr. Freal received a BS in Business Administration and obtained an MBA from George Mason University.

Managing Director, Private Finance
New York, NY Office

Ms. Gladstone has been with The Gladstone Companies since August 2001. She serves as a Managing Director of our New York office where she works with our mezzanine debt and syndicated loan team.

Prior to joining the firm, Ms. Gladstone worked as an Associate in equity research at ING Barings, where she was responsible for covering companies in the telecommunications industries. Ms. Gladstone also worked for Salomon Smith Barney as an Assistant Analyst in equity research and HSBC as an analyst in Buenos Aires, Argentina. She received her BBA from The George Washington University. She is the co-author of two books on lending to small business: Venture Capital Handbook and Venture Capital Investing both published by Prentice Hall.

Mr. Kimbrough joined The Gladstone Companies in September 2008 as a Managing Director for the Portfolio Management group and opened our Richmond office for the firm. With 30 years of experience in operations, management consulting, and M&A transactions, he concentrates on portfolio management.

Prior to joining the firm he was a Managing Director of Windward Advisors, an investment banking firm and advisor to lower middle-market companies. Before Windward, Mr. Kimbrough spent eight years as a management consultant to process manufacturing companies as President of Heads Up Systems. He was President of Alliance Agronomics, an agriculture consulting and services firm, from 1996-1998. Prior to Alliance he was Vice President and Group Executive of the Consumer Specialties Division of James River Corporation, a paper manufacturer where he served in various capacities over 15 years, including responsibility for Corporate Development. He began his career in production at a family-owned manufacturing firm. He received his MBA from Virginia Commonwealth University and his BS from Tufts University.

Mr. Massey has been with The Gladstone Companies since May 2004. He currently serves as a Managing Director in our McLean, VA Headquarters focusing on investments in commercial real estate projects.

Prior to joining the firm, Mr. Massey was Vice President of Asset Management with Kennedy Associates Real Estate Counsel, a $6 billion pension fund advisor where he was responsible for $450 million of Class A office and industrial properties and over 200 tenants. Formerly, Mr. Massey was President of a broadcast tower acquisitions company and Director of Business Development for two cellular tower & in-building network companies. Mr. Massey also held asset management roles with other commercial real estate firms where he evaluated nonperforming loan and REO portfolios, and analyzed underwriting debt and equity investments valued at nearly $4 billion. Mr. Massey began his career in consumer banking responsible for daily operations at a 3,000-member credit union. He received a BA in Political Science from Virginia Polytechnic Institute and State University.

Managing Director, Private Finance
Chicago, IL Office

Mr. Meier joined The Gladstone Companies in 2007 as a Managing Director focusing on new business development in the Media & Communications industry in our Chicago office.

Prior to joining Gladstone, Mr. Meier was a Vice President in Wells Fargo Foothill's Specialty Finance division. At Wells Fargo Foothill, Mr. Meier was responsible for originating and underwriting senior loans in the media and telecommunications sector. Prior to Wells Fargo, Mr. Meier was with Westburg Media Capital and a Vice President of FINOVA Capital Corporation, where his primary responsibility was the origination of media loans of up to $250 million.

From 1990-1994, he served as a Vice President at Heller Financial Inc. Mr. Meier began his banking and lending career at Continental National Bank in 1986. Mr. Meier received a BS in Finance from Western Illinois University, attended Washington University in St. Louis, and obtained a Master of Science in Finance from the University of Illinois.

Mr. Pierce has been with The Gladstone Companies since May 2004. He currently serves as a Managing Director in our Chicago office focusing on debt and equity investments in private businesses.

Prior to joining Gladstone, Mr. Pierce was with GE Commercial Finance where he was a Senior Vice President in the Global Sponsor Finance Group. While at GE, Mr. Pierce was responsible for aggregating $1.5 billion in commitments from senior debt opportunities and private equity sponsors in the Midwest. From 1996 to 2000, Mr. Pierce was Vice President with Heller Financial in Chicago, originating and underwriting transactions. From 1985 through 1996, Mr. Pierce was with Bank of America in Chicago, and its predecessor, Continental Bank, in a variety of roles, including loan workouts, asset based lending, and leveraged finance. Mr. Pierce received a BS in Accounting from Marquette University and obtained an MBA in Finance from the University of Wisconsin at Madison.

Managing Director and Head of Portfolio Management
McLean, VA Office

Mr. Sateri has been with The Gladstone Companies since April 2007. He currently serves as a Managing Director in our McLean, VA Headquarters focusing on private business debt, equity, and real estate Portfolio Management.

Prior to joining Gladstone, Mr. Sateri directed an independent consultancy providing distressed debt valuation, CMBS securitization and loan sale advisory services to institutional investors, national advisory firms and government clients. From 1989 to 1998, Mr. Sateri worked for Wachovia Bank (predecessor/affiliated companies) in a variety of areas including credit risk management, special assets, commercial lending, and lastly capital markets where he served as Vice President and Senior Portfolio Manger overseeing a team responsible for underwriting, servicing and managing an asset based loan portfolio with half a billion dollars in commitments to highly leveraged, growth oriented, middle market companies.  He holds a bachelor’s degree in Business Administration from The University of Hawaii at Manoa, a master’s degree in Real Estate Development from the University of Maryland at College Park, and is a member of the Risk Management Association.

Ms. Simpson joined The Gladstone Companies in early 2007 as a Managing Director for the Investment Management group focusing on structured financing and due diligence.

Prior to joining Gladstone, Ms. Simpson worked for Morgenthaler Partners arranging debt financing for their leveraged buyouts. From 1999 to 2006, Ms. Simpson worked for National City Bank, most recently as Senior Vice President in Credit Administration, as well as a relationship manager for closely held and equity sponsor-owned middle-market companies. Ms. Simpson served on active duty for four years as a lieutenant in the U.S. Army. She received a BS in Economics from University of Pennsylvania and an MBA in Finance from Case Western Reserve University.

Mr. Bowie joined The Gladstone Companies in October 2004.  He currently serves as a Director in our McLean, VA Headquarters focusing his efforts on debt and equity investments in aerospace and defense, energy, business services, and industrial products and services.

Prior to joining Gladstone, Mr. Bowie worked for Citigroup Global Markets, Inc, in New York City underwriting corporate loan and debt financings to clients of Citigroup’s Consumer and Healthcare group. While at Citigroup, he served as an associate responsible for underwriting Citigroup’s loan and debt investments with new and existing corporate clients as well monitoring the performance of these clients. Prior to working at Citigroup, Mr. Bowie served in the United States Navy as a Naval Flight Officer flying the S-3B Viking.   While in the Navy, he deployed twice the Western Pacific / Arabian Gulf and was subsequently a flight instructor at the S-3B Viking’s fleet replacement squadron preparing replacement pilots and flight officers for aircraft carrier based operations.  Mr. Bowie earned a BA from George Washington University and received his MBA from Georgetown University’s McDonough School of Business.

Mr. Kranbuhl joined The Gladstone Companies in March 2005.  He currently serves as a Director in our McLean, VA Headquarters focusing his efforts on debt and equity investments in healthcare services, business services, and industrial products and services companies for the Gladstone Investment and Gladstone Capital funds.   

Prior to joining Gladstone, Mr. Kranbuhl worked for Petra Capital Partners in Nashville, TN providing private equity and debt capital to growth companies throughout the United States. While at Petra, he served as an associate responsible for initiating and negotiating new investments, and for monitoring Petra's outstanding debt and equity positions. Prior to working at Petra, Mr. Kranbuhl worked for Wheat First Butcher Singer in Richmond, VA as an analyst in the investment banking division, where he structured and completed mergers and acquisitions as well as equity and convertible debt offerings. Mr. Kranbuhl also served as a summer associate for the Overseas Private Investment Corporation where he worked in the project finance group providing debt capital for global expansion projects of United States-based corporations. 

Mr. Kranbuhl earned a BA from Duke University and received his MBA from the University of Michigan Business School.

Mr. Tucker joined the Gladstone Companies in May 2005. He currently serves as a Director in our McLean, VA Headquarters focused on sourcing and executing net leased real estate acquisitions and sale leaseback financing investments in the Northeast and Western US. Mr. Tucker has extensive experience in net leased real estate investing, private equity and leveraged finance.

Prior to joining Gladstone, from 2002 to 2005 Mr. Tucker was an independent consultant providing management and strategic consulting services to early stage and start-up companies, deal evaluation services for private equity investors, and managing a real estate investment portfolio. In 2003, he was summer associate at Liquid Realty Partners, a real estate private equity secondaries firm, where he was responsible for valuing portfolios of properties held by institutional sellers of limited partnership interests. From 2000 to 2002, Mr. Tucker worked as an associate for SG Capital Partners, a private equity and venture capital fund. From 1998 to 2000, Mr. Tucker was an analyst and associate in Chase Securities' High Yield Finance group. Mr. Tucker earned his MBA with highest honors from the University of Michigan Business School as a member of the Beta Gamma Delta society and holds an AB in Psychology from Princeton University.