Main Street Capital Announces New Portfolio Investment
HOUSTON, Dec. 1 /PRNewswire-FirstCall/ -- Main Street Capital Corporation (Nasdaq: MAIN) ("Main Street") announced today a new portfolio investment in Drilling Info, Inc. ("Drilling Info" or the "Company"). Main Street provided Drilling Info with debt financing in connection with its acquisition of HPDI, LLC ("HPDI"), a data service company that provides data products and web-enabled, decision-support applications to various users within the energy industry. Main Street's $4.8 million investment in Drilling Info consists of a second lien, secured debt investment with an equity warrant participation representing an approximate 3% equity interest in the Company.
Drilling Info (www.drillinginfo.com) is the premier information service provider for the domestic upstream oil and gas industry, providing an integrated land, production, and well information platform to a base of over 10,000 users in the energy sector. Through a subscription-based revenue model, Drilling Info provides comprehensive and up-to-date data to its customers as well as a full complement of web-based applications and tools.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street's investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives to its portfolio companies.
Contacts: Main Street Capital Corporation ------------------------------- Todd A. Reppert, President and CFO firstname.lastname@example.org 713-350-6000 Dennard Rupp Gray and Easterly, LLC ----------------------------------- Ken Dennard email@example.com / 713-529-6600 Augustine Okwu firstname.lastname@example.org / 404-532-0086
SOURCE Main Street Capital Corporation
Released December 1, 2009