Main Street Announces New Portfolio Investment
HOUSTON, June 29, 2016 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently led a new portfolio investment to facilitate the leveraged buyout of Gamber-Johnson, LLC ("Gamber" or the "Company"), a market leading provider of ruggedized mounting systems for law enforcement, public safety, telecommunications, utility and military end markets. Main Street, along with a co-investor, partnered with the Company's management team to facilitate the transaction, with Main Street funding $32.1 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street and its co-investor are providing Gamber an undrawn credit facility to support its future growth initiatives and working capital needs.
Headquartered in Stevens Point, Wisconsin, with business origins dating back to 1954, Gamber (www.gamberjohnson.com) is a leading manufacturer of ruggedized computer mounting systems that are designed to safely secure and stabilize electronics in professional vehicles for various end markets. Over its history, the Company has developed a strong brand and a reputation for high quality, reliable products. Main Street and its co-investor purchased Gamber from Leggett & Platt, Inc. Gamber was a standalone operating division of Leggett & Platt's Commercial Vehicle Products Group.
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 June 29, 2016