HOUSTON, July 11,
2024 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce the following
recent activity in its private loan portfolio. During the second
quarter of 2024, Main Street originated new or increased
commitments in its private loan portfolio of $375.9 million and funded total investments
across its private loan portfolio with a cost basis totaling
$323.8 million.
The following represent notable new private loan commitments and
investments during the second quarter of 2024:
- $107.6 million in a first lien
senior secured loan and $15.4 million
in a first lien senior secured revolver to a manufacturer of custom
engineered die cut, formed foam, nonwoven and multi-material
components for the automotive and healthcare end markets;
- $47.5 million in a first lien
senior secured loan, $10.5 million in
a first lien senior secured revolver and $25.0 million in a first lien senior secured
delayed draw loan to a provider of senior-level executive search,
interim placement, consulting and other talent advisory
solutions;
- $52.8 million in a first lien
senior secured loan and $6.2 million
in a first lien senior secured revolver to a provider of mission
critical services to datacenters specializing in the procurement
and maintenance of power systems equipment;
- $42.9 million in a first lien
senior secured loan and $3.6 million
in a senior secured revolver to a provider of packaging supply
chain solutions including contract packaging, procurement,
warehousing, process design and third-party logistics;
- $26.4 million in a first lien
senior secured loan and $0.1 million
in a first lien senior secured revolver to a provider of asset
management and alternative investing services;
- Increased commitment of $8.1
million in a first lien senior secured incremental loan and
$13.5 million in a first lien senior
secured incremental delayed draw loan to a provider of clinical
trial sites used by drug manufacturers to perform clinical
trials;
- Increased commitment of $5.8
million in a first lien senior secured incremental revolver
to a supplier of complex antenna and thermal management solutions
critical to the advancement and management of next-generation
radars, electronic warfare and defense systems;
- $5.2 million in a first lien
senior secured loan and $0.5 million
in a first lien senior secured revolver to a provider of
maintenance, installation and construction services for wastewater
treatment and environmental solutions; and
- $4.0 million in a first lien
senior secured loan to a provider of safety, logistics, project
planning, materials management and technology support services to
refineries and petrochemical plants.
As of June 30, 2024, Main Street's
private loan portfolio included total investments at cost of
approximately $1.8 billion across 92
unique borrowers. The private loan portfolio, as a percentage of
cost, included 95.4% invested in first lien debt investments and
4.6% invested in equity investments or other securities.
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 investment strategy. Main Street's lower
middle market portfolio companies generally have annual revenues
between $10 million and $150 million. Main Street's middle market
portfolio companies 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, as amended.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Jesse E. Morris, CFO and COO,
jmorris@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken
Dennard | ken@dennardlascar.com
Zach Vaughan |
zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation
