We present near-infrared spectroscopy of low-mass companions in the HD 130948 system (Goto et al. 2002a). Adaptive optics on the Subaru Telescope allowed for spectroscopy of the individual components of the 0″.13 binary system. Based on a direct comparison with a series of template spectra, we determined the spectral types of HD 130948B and C to be L4 ± 1. We find they are most likely a binary brown dwarf system.