Main Street Announces New Portfolio Investment
HOUSTON, Nov. 6, 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 management-led buyout of Kickhaefer Manufacturing Company, LLC ("KMC" or the "Company"), a leading manufacturer of precision metal parts and components. Main Street, along with its co-investors, partnered with KMC's management team to facilitate the transaction, with Main Street funding $45.24 million in a combination of first-lien, senior secured term debt and a direct majority equity investment. In addition, Main Street and one of its co-investors are providing KMC an undrawn credit facility to support its future organic growth initiatives and working capital needs.
Founded in 1908, and headquartered in Port Washington, Wisconsin, KMC utilizes a variety of manufacturing processes including stamping, slide forming, laser cutting, press braking and forming, to produce a wide array of complex, precision metal parts and components. KMC has grown to become a leading supplier of standard and custom metal parts and components to a diverse base of blue-chip customers in a variety of end markets, including automotive, heavy equipment, on-highway trucks and general commercial industries.
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 November 6, 2018