Main Street Capital Announces New Portfolio Investment
HOUSTON, April 12, 2011 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed a new portfolio investment totaling $4.1 million in invested capital.
Main Street's investment in River Aggregates, LLC ("River Aggregates" or the "Company") supported the recapitalization of the Company, as well as provided additional financing for future growth. The River Aggregates investment consists of $3.5 million in first lien secured debt with equity warrant participation and a $0.6 million direct equity investment. Headquartered in Porter, Texas, the Company mines, processes and sells sand and gravel products that are utilized in various construction activities, including concrete, asphalt, masonry, utility, landscaping and other applications. River Aggregates will continue to be led by its President, Rob Van Til, who also made a direct equity investment as part of the recapitalization.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies. Main Street's lower middle market 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 within its lower middle market portfolio. Main Street also maintains a portfolio of privately placed secured, interest-bearing debt investments in middle market businesses that are generally larger in size than its lower middle market portfolio companies.
Main Street Capital Corporation
Todd A. Reppert, President and CFO
SOURCE Main Street Capital Corporation
Released April 12, 2011