Main Street Announces Follow-On Investments
HOUSTON, Sept. 7, 2021 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently invested a total of $26.0 million in first lien, senior secured term debt in two existing portfolio companies.
Main Street recently completed a follow-on investment in OMi Holdings, Inc, ("OMi") to support a recapitalization of OMi. Founded in 1969 and headquartered in Royse City, Texas, OMi is a vertically integrated manufacturer of through the air material handling equipment including bridge cranes, runway systems, monorail systems, jib cranes and hoists. OMi also provides maintenance services, inspections and after-market parts for both equipment manufactured by OMi and other parties through service locations in Dallas, Houston and Birmingham. Main Street's first investment in OMi was completed in April 2008.
Main Street also recently completed a follow-on investment in Cody Pools, Inc. ("Cody Pools"). Cody Pools is a leading designer and builder of premium, highly customized swimming pools and spas for residential and commercial customers in the United States and has been ranked as the "#1 Pool Builder in the Nation" by Pool & Spa News for nine consecutive years. Main Street's follow-on investment supported Cody Pools' acquisition of a Houston, Texas-based pool builder, further expanding the company's position in the Houston market.
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, through its wholly owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.
SOURCE Main Street Capital Corporation
Released September 7, 2021