Main Street Announces New Portfolio Investment
HOUSTON, Sept. 5, 2013 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it closed a new portfolio investment totaling $16.3 million of invested capital in Travis Acquisition LLC, the parent company of Travis Body and Trailer, Inc. ("Travis"). Main Street's investment in Travis includes a combination of first lien, senior secured term debt and a direct equity investment.
Headquartered in Houston, Texas, Travis manufactures all-aluminum dump trailers, including end dump, bottom dump and transfer trailers, as well as several specialty application trailers. Travis serves customers in a variety of end markets, such as rendering, municipal solid waste, agriculture, recycling, energy, aggregates, underground utilities and construction. Since its founding in 1989, Travis has sold over 12,000 trailers. Main Street partnered with Travis' management team and third party investors to facilitate the acquisition of Travis.
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 September 5, 2013