Main Street Announces New Portfolio Investment
HOUSTON, Sept. 5, 2018 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently led a new portfolio investment to facilitate the majority recapitalization of Tedder Industries, LLC ("Tedder" or the "Company"), a leading designer, manufacturer and marketer of firearm holsters and accessories primarily under the brand name Alien Gear. Main Street, along with a co-investor, partnered with the Company's founder and Chief Executive Officer and senior management team to facilitate the transaction, with Main Street funding $23.9 million in a combination of first-lien, senior secured term debt and a direct equity investment.
Founded in 2010, and headquartered in Post Falls, Idaho, Tedder creates personal and comfortable solutions primarily for the open and concealed carry consumer market. The Company offers high-quality, competitively priced firearm holsters and accessories for a wide variety of carrying methods. The Company sells the majority of its products directly to consumers in the United States through its own ecommerce website and has recently launched its brick and mortar presence through over 500 retailers nationwide.
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.
SOURCE Main Street Capital Corporation
Released September 5, 2018