HOUSTON, Nov. 20, 2013 /PRNewswire/ -- Main Street Capital Corporation (MAIN) ("Main Street") announced today that it recently closed a new portfolio investment totaling $15.6 million of invested capital in an industry leading software-as-a-service ("SaaS") provider of digital marketing and customer relationship management tools to the real estate industry (the "Portfolio Company"). The proceeds of Main Street's investment were used to complete a majority recapitalization of the Portfolio Company. Main Street's investment in the Portfolio Company includes a combination of first lien, senior secured term debt and a direct equity investment. In addition, Main Street is also providing an undrawn revolving line of credit to support the Portfolio Company's future working capital and growth requirements.
The Portfolio Company's existing owners and management team retained a significant ownership position in the Portfolio Company and an independent management team with substantial SaaS experience and with whom Main Street has previously invested joined Main Street as a minority co-investor in the Portfolio Company. The Portfolio Company is headquartered in the Pacific Northwest and has been in business for over 10 years.
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's common stock trades on the New York Stock Exchange ("NYSE") under the symbol "MAIN." In addition, Main Street has outstanding 6.125% Notes due 2023, which trade on the NYSE under the symbol "MSCA."
Main Street Capital Corporation
Dwayne L. Hyzak, CFO and Senior Managing Director
- Investment & Company Information
- Portfolio Company