Business briefs for May 16, 2012

Crown Crafts signs toddler bedding deal

A subsidiary of Crown Crafts Inc., of Gonzales, has signed a licensing agreement with Carter’s Inc., whose brands include Carter’s and OshKosh B’gosh, for a new line of toddler bedding products.

Crown Crafts Infant Products Inc. is expected to launch the Carter’s line of bedding, blankets and room decor accessories in spring 2013. The Crown Crafts deal marks Carter’s first move into toddler bedding.

Carter’s Inc. clothing and accessories are sold at more than 600 company-operated retail stores, as well as thousands of national department stores and some of the country’s largest retailers, such as Babies ’R Us, Belk, Bon-ton, J.C. Penney, Kohl’s, Macy’s and Sears.

Gladstone invests
in Francis Drilling

Gladstone Capital Corp. said it has invested $16 million in Francis Drilling Fluids Ltd. in Crowley.

Gladstone Capital provided debt and equity financing to support the acquisition of Francis Drilling by private equity sponsor Prophet Equity of Southlake, Texas.

Francis Drilling serves the U.S. oil and natural gas industry, specializing in the movement and warehousing of fracturing materials required for high-pressure horizontal oil and natural gas drilling.

“Gladstone Capital is pleased to support Prophet Equity and the experienced management team at FDF in this investment. We are excited to add another quality investment to our portfolio as we build our assets and earnings,” said Chip Stelljes, president of Gladstone Capital, in McLean, Va.

Advocate business staff