Main Street Announces New Portfolio Investment
09/02/20, 11:08 AM
Location
houston Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the minority recapitalization of Superior Rigging & Erecting Co. ("Superior" or the "Company"), a leading provider of rigging, steel erection and crane & equipment rental services throughout the southeastern United States. Main Street partnered with the Company's management team to facilitate the transaction, with Main Street funding $26.0 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street is providing Superior with access to additional term debt to facilitate its future growth needs.
Company Info
Location
houston, texas, united states
Additional Info
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.
Main Street, through its wholly owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.
Contacts:Main Street Capital CorporationDwayne L. Hyzak, CEO, dhyzak@mainstcapital.comJesse E. Morris, CFO & COO, jmorris@mainstcapital.com 713-350-6000
Dennard Lascar Investor RelationsKen Dennard | ken@dennardlascar.com Zach Vaughan | zvaughan@dennardlascar.com 713-529-6600
SOURCE Main Street Capital Corporation