Invests $41.4
Million in Connect Telecommunications Solutions Inc.
HOUSTON, Oct. 16,
2024 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce that it
recently completed a new portfolio investment totaling $41.4 million to facilitate the minority
recapitalization of Connect Telecommunications Solutions Inc.
("Connect" or the "Company"), a leading value-added distributor of
fiber management solutions to the Canadian telecommunications
industry. Main Street, along with its co-investor, partnered with
the Company's founders to facilitate the transaction, with Main
Street's investment including a combination of first-lien, senior
secured term debt and a direct equity investment.
Founded in 1999 and headquartered in Kitchener, Ontario, Connect is a leading
supplier of outside the plant fiber management solutions to the
Canadian telecommunications industry. Connect offers a
comprehensive range of products to its clients, including vaults,
cabinets, pedestals and various fiber connectivity
solutions.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment
firm that primarily provides customized long-term debt and equity
capital solutions to lower middle market companies and debt capital
to private companies owned by or in the process of being
acquired by a private equity fund. 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 customized "one-stop" debt and equity
financing alternatives within its lower middle market investment
strategy. Main Street seeks to partner with private equity fund
sponsors and primarily invests in secured debt investments in its
private loan investment strategy. Main Street's lower middle market
portfolio companies generally have annual revenues between
$10 million and $150 million. Main Street's private loan
portfolio companies generally have annual revenues between
$25 million and $500 million.
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
Ryan R. Nelson, CFO,
rnelson@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