Main Street Announces New Portfolio Investment
HOUSTON, Aug. 19, 2014 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently led a financing totaling $17.0 million of invested capital in Guerdon Enterprises, LLC ("Guerdon"), to support the majority recapitalization of Guerdon, with Main Street funding $13.6 million of the financing in this new portfolio investment. Main Street's portion of the financing included an $11.2 million first lien, senior secured term loan and a $2.4 million equity investment. In addition, Main Street and its co-investor in the financing are also providing Guerdon an undrawn revolving line of credit to support its future working capital needs. Main Street and its co-investor partnered with Riverlake Partners, LLC, a private equity firm based in Portland, Oregon, and Guerdon's founder to facilitate the transaction.
Headquartered in Boise, Idaho, and founded in 2001, Guerdon is a leading systems-built, off site producer of large modular commercial and multi-family construction projects in the Western United States and Canada. Guerdon's portfolio consists of large apartment, condominium, hotel, office, and workforce housing buildings in varying geographies, climates and working conditions.
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 August 19, 2014