Main Street Announces New Portfolio Investment
HOUSTON, June 15, 2017 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently made a new portfolio investment in Meisler Rental Group LLC ("Meisler" or the "Company"), a regional provider of short term trailer and container rentals. Main Street, along with a co-investor, partnered with the Company's management team to facilitate the transaction, with Main Street funding $20.0 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street is providing Meisler an undrawn credit facility to support its working capital needs.
Based in Indiana, with business origins dating back to 1972, Meisler is a leading regional provider of short term trailer (dry van) and container rentals to the auto, consumer goods, healthcare, and general industrials markets with an additional location in Tennessee. Meisler rents its fleet of over 6,000 trailers and containers and provides maintenance services at both of its locations.
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 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 15, 2017