HOUSTON, Oct. 10,
2024 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce the following
recent activity in its private loan portfolio. During the third
quarter of 2024, Main Street originated new or increased
commitments in its private loan portfolio of $270.3 million and funded total investments
across its private loan portfolio with a cost basis totaling
$309.3 million.
The following represent notable new private loan commitments and
investments during the third quarter of 2024:
- $77.2 million in a first lien
senior secured loan and $8.3 million
in a first lien senior secured revolver to a tech-enabled marketing
solutions provider offering services across customer loyalty,
channel partner marketing, performance media, website design and
email marketing;
- $43.6 million in a first lien
senior secured loan and $1.4 million
in equity to a provider of maintenance, repair and overhaul
services for industrial equipment, including compressors, motors,
turbines and pumps;
- $31.1 million in a first lien
senior secured loan and $4.9 million
in a first lien senior secured revolver to an operator of tourism
concession and harbor cruises across North America;
- Increased commitment of $22.2
million in a first lien senior secured incremental loan and
$0.6 million in a first lien senior
secured incremental revolver to a leading tech-enabled global
business to business sales training and performance solutions
provider;
- Increased commitment of $20.1
million in a first lien senior secured incremental loan and
$2.7 million in a first lien senior
secured incremental revolver to a manufacturer of chemicals and
lubricant additives serving large specialty chemical companies;
- Increased commitment of $15.2
million in a first lien senior secured incremental loan and
$2.2 million in a first lien senior
secured incremental revolver to a manufacturer of custom engineered
die cut, formed foam, nonwoven and multi-material components for
the automotive and healthcare end markets;
- Increased commitment of $10.0
million in a first lien senior secured incremental loan,
$2.2 million in a first lien senior
secured incremental revolver and $5.3
million in a first lien senior secured incremental delayed
draw loan to a provider of senior-level executive search, interim
placement, consulting and other talent advisory solutions;
- Increased commitment of $8.9
million in a first lien senior secured incremental loan and
$1.1 million in a first lien senior
secured incremental revolver to a provider of mission critical
services to datacenters specializing in the procurement and
maintenance of power systems equipment;
- Increased commitment of $7.2
million in a first lien senior secured incremental loan to a
provider of packaging supply chain solutions including contract
packaging, procurement, warehousing, process design and third-party
logistics; and
- Increased commitment of $6.1
million in a first lien senior secured incremental loan to a
distributor of food products to government facilities and other
food service locations.
As of September 30, 2024, Main
Street's private loan portfolio included total investments at cost
of approximately $1.9 billion
across 92 unique borrowers. The private loan portfolio, as a
percentage of cost, included 96.0% invested in first lien debt
investments and 4.0% invested in equity investments or other
securities.
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 portfolio companies generally have annual revenues
between $10 million and $150 million. Main Street's middle market
portfolio companies 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
Ryan R. Nelson, CFO & Treasurer,
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