Main Street Announces New Portfolio Investment
HOUSTON, April 15, 2016 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently led a new portfolio investment totaling $12.0 million of invested capital in CapFusion, LLC ("CapFusion" or the "Company") to fund the Company's near-term growth opportunities and refinance existing debt, with Main Street funding $9.6 million of the investment. The investment in CapFusion consists of first-lien, senior secured term debt with equity warrant participation. In addition, Main Street and its co-investor are providing CapFusion an additional commitment for $8.0 million and a further conditional commitment for additional capital to support its future growth opportunities.
Headquartered in Prairie Village, Kansas and founded in 2013 by established specialty finance industry experts, CapFusion (www.capfusion.com) is a leading technology-focused business-to-business lender in a number of previously underserved industry segments. CapFusion provides short-term capital to established small businesses across the United States and utilizes a proprietary, technology-based lending platform that allows it to quickly determine credit risk, assess a client's needs, and fund a loan shortly after receiving a completed application from a client. CapFusion's customers have an average of more than $1.0 million in revenue, are diversified across a number of industries including medical, retail, professional services, construction, transportation, and agriculture, and are typically looking for more nimble, flexible capital than that typically provided by traditional lenders.
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 April 15, 2016