Main Street Announces New Portfolio Investment
HOUSTON, Nov. 11, 2014 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently led a new portfolio investment totaling $15.9 million of invested capital to facilitate the majority recapitalization of SoftTouch Medical Holdings LLC, the parent company of SoftTouch Medical, LLC ("SoftTouch" or the "Company"), with Main Street funding $13.5 million of the investment. Main Street's portion of the investment in SoftTouch included $8.5 million of first lien, senior secured term debt and a $5.0 million equity investment for a control equity ownership position in the Company. Main Street and its co-investor partnered with the Company's Founder, President and other members of management to facilitate the transaction.
Headquartered in Marietta, Georgia, and founded in 1997, SoftTouch is the leading regional home provider of durable medical equipment and services, primarily serving pediatric patients in the greater Atlanta, Georgia metropolitan area. SoftTouch was founded to address the needs of the increasing amount of patients receiving home healthcare treatment. The Company provides a broad array of medical equipment and services to chronically ill youth through its diverse product offerings, including respiratory therapy, enteral feeding, phototherapy, ventilators, amongst others.
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 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's common stock trades on the New York Stock Exchange ("NYSE") under the symbol "MAIN." In addition, Main Street has outstanding 6.125% Notes due 2023, which trade on the NYSE under the symbol "MSCA."
Main Street Capital Corporation
Dwayne L. Hyzak, CFO and Senior Managing Director
SOURCE Main Street Capital Corporation
Released November 11, 2014