Main Street Announces New Portfolio Investment
Invests $24.8 Million in J&J Services, Inc.
HOUSTON, Nov. 6, 2019 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the recapitalization of J&J Services, Inc. ("J&J" or the "Company"), a leading provider of roll-off dumpster and portable toilet rental services. Main Street, along with its co-investors, partnered with the Company's founders and senior management team to facilitate the recapitalization and provide growth capital, with Main Street funding $24.8 million in a combination of first-lien, senior secured term debt and a direct equity investment.
Founded in 2000, and headquartered in Nashville, Tennessee, J&J is a second-generation family-owned business providing roll-off dumpster and portable toilet rental services to an expansive base of residential, commercial, and demolition customers. Driven by the Company's highly responsive, customer-centric service approach, J&J has longstanding relationships with regional and national contractors operating throughout the rapidly growing Nashville and Middle Tennessee markets.
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, 2019