Main Street Capital Realizes $6.4 Million Gain From Sale of TA Acquisition Group, LP Assets

HOUSTON, July 15 /PRNewswire-FirstCall/ -- Main Street Capital Corporation (Nasdaq: MAIN) ("Main Street") announced today that it realized a $6.4 million gain, including structuring and advisory fees, related to the sale of substantially all of the assets of portfolio company TA Acquisition Group, LP ("Travis Aggregates") to a subsidiary of Texas Industries, Inc. (NYSE: TXI). The net sale proceeds received by Main Street related to its equity interests in Travis Aggregates were approximately 19 times Main Street's original equity investment of $0.4 million. In addition, the net sale proceeds received approximated Main Street's recorded fair value for the Travis Aggregates investment as of March 31, 2008, which represents the latest reported fair value. Main Street also provided, on an exclusive basis, certain structuring and advisory services to Travis Aggregates in connection with the asset sale to TXI.

Travis Aggregates is located in the Austin, Texas area and produces construction aggregate products utilized in various applications and end-markets. Main Street's original Travis Aggregates investment represented a $4.0 million first lien secured debt investment coupled with nominally priced equity warrants and a $0.4 million direct equity investment, which represented a combined, fully diluted ownership interest in Travis Aggregates of approximately 36%. In connection with the sale of assets by Travis Aggregates, Main Street also received full repayment of its remaining first lien secured debt investment. Main Street recognized a total compounded annual rate of return over the term of its investment in Travis Aggregates equal to approximately 56%, including interest, dividends, fees and the gain realized on the sale of assets.


Main Street ( is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street's investments are generally made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 to $100 million. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one-stop" financing alternatives to its portfolio companies.

     Main Street Capital Corporation
     Todd A. Reppert, President and CFO

     Dennard Rupp Gray and Easterly, LLC
     Ken Dennard / 713-529-6600
     Augustine Okwu / 404-532-0086

SOURCE Main Street Capital Corporation