Main Street Announces New Portfolio Investment
Invests $48.8 Million in Pearl Meyer & Partners, LLC
HOUSTON, April 28, 2020 /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 Pearl Meyer & Partners, LLC ("Pearl Meyer" or the "Company"), the premier independent provider of executive compensation consulting services, benchmarking data and surveys. Main Street partnered with the Company's management team and senior consultants to facilitate the transaction, with Main Street funding $48.8 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street is providing Pearl Meyer with a credit facility to support its future growth initiatives and working capital needs.
Founded in 1989, Pearl Meyer (www.pearlmeyer.com) has a 30-year track record of successfully advising boards, compensation committees and senior management on the alignment of executive compensation with business and leadership strategy. The Company has significant experience advising companies across the United States, United Kingdom, and EMEA. The firm's client base spans a broad number of both public and private companies, and not-for-profit institutions at every stage in their business lifecycle. Senior consultants at Pearl Meyer go beyond compliance-driven and peer group-based design of executive compensation programs, providing their clients with business-based, strategic thinking that transforms compensation from a cost of doing business into a competitive advantage and a catalyst for value creation.
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 April 28, 2020