Main Street Announces New Portfolio Investment
HOUSTON, Sept. 9, 2015 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently led a new portfolio investment totaling $25.0 million of invested capital to facilitate the recapitalization of M.H. Corbin, Inc. ("M.H. Corbin" or the "Company"), with Main Street funding $20.0 million of the investment. Main Street's investment in M.H. Corbin included a combination of first-lien, senior secured term debt and a direct equity investment. Main Street and its co-investor partnered with the Company's founders and other members of management to facilitate the recapitalization.
Headquartered in Plain City, Ohio, and founded in 1986, M.H. Corbin (www.mhcorbin.com) is a prominent manufacturer and distributor of highway safety and traffic management products. M.H. Corbin's manufactured products include highway advisory radios, portable traffic analyzers, distance measurement instruments, fiberglass noise barriers and flashing beacons. The Company's distributed products include intelligent traffic devices, traffic safety equipment, impact attenuation products and road weather information systems.
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."
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SOURCE Main Street Capital Corporation
Released September 9, 2015