Main Street Capital Announces a $3.6 Million New Portfolio Investment
HOUSTON, June 9 /PRNewswire-FirstCall/ -- Main Street Capital Corporation (Nasdaq: MAIN) ("Main Street") announced today that it has completed a $3.6 million new portfolio investment in Ceres Management, LLC, dba Lamb's Tire and Automotive Centers ("Lamb's"). Main Street's investment in Lamb's included a $2.4 million second lien, secured debt investment and a $1.2 million equity investment, representing a 45% fully diluted equity interest. Lamb's owns and operates fifteen Goodyear tire retail and automotive repair centers in and around Austin, Texas. Lamb's acts as a branded Goodyear retail tire dealer and offers a full range of auto repair and maintenance services using state-of-the-art computer diagnostic equipment operated by ASE-certified technicians. According to Tire Business Magazine, Lamb's is the 26th largest independent tire and auto service network in the United States and has been ranked by the Austin Business Journal as one of the top fifty fastest growing private companies in Austin, Texas for five of the past seven years.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (http://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 generally 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 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 email@example.com 713-350-6000 Dennard Rupp Gray and Easterly, LLC Ken Dennard firstname.lastname@example.org / 713-529-6600 Augustine Okwu email@example.com / 404-532-0086
SOURCE Main Street Capital Corporation
Released June 9, 2008