Invests $52.8
Million in a Provider of Insignia and Tactical
Products
HOUSTON, June 28,
2023 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce
that it recently completed a new portfolio investment in an
industry leading manufacturer and distributor of insignia and
tactical products and accessories (the "Company").
Main Street, along with its co-investor, partnered with the
Company's management team to facilitate a management led buyout of
the Company, with Main Street funding $52.8
million in a combination of first lien, senior secured term
debt and a direct equity investment. In addition, Main Street and
its co-investor provided the Company with a revolving line of
credit to support the Company's future growth initiatives and
working capital needs.
The Company, founded in 1943 and headquartered in Providence, Rhode Island, designs,
manufactures and distributes branded and private label insignia,
tactical products and accessories. The Company has an expansive
portfolio of products that are sold to consumers globally through
retailers and eCommerce platforms.
ABOUT MAIN STREET CAPITAL CORPORATION
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 investment strategy. 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, as amended.
Contacts:
Main Street Capital
Corporation
Dwayne L.
Hyzak, CEO,
dhyzak@mainstcapital.com
Jesse E. Morris, CFO & COO,
jmorris@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard |
ken@dennardlascar.com
Zach Vaughan |
zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation