Main Street Announces New Portfolio Investment
HOUSTON, Dec. 20, 2012 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently closed a new portfolio investment totaling $6.5 million of invested capital in PCI Holding Company, Inc., the parent company of Pacific Consolidated Industries LLC ("PCI"). Main Street's investment consists of $5.0 million in first lien, senior secured debt and a $1.5 million direct equity investment.
PCI is headquartered in Riverside, California, and manufactures ruggedized onsite liquid and gaseous oxygen and nitrogen generators for a variety of markets, including the military, medical, water & wastewater treatment, industrial, and oil & gas markets. Main Street partnered with PCI's management team and third party investors to acquire PCI and facilitate the recapitalization and growth financing of PCI.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that 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 Capital Corporation
Dwayne L. Hyzak, CFO and Senior Managing Director
SOURCE Main Street Capital Corporation
Released December 20, 2012