Main Street Announces New Portfolio Investment

Rhea-AI Summary

Main Street Capital Corporation announces a new portfolio investment of $52.8 million in a manufacturer and distributor of insignia and tactical products. The investment includes debt and equity funding, as well as a revolving line of credit for future growth.

Positive

• Main Street Capital invests $52.8 million in a manufacturer and distributor of insignia and tactical products. The investment will support the Company's management-led buyout and provide funding for future growth initiatives and working capital needs.

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• None.

Invests $52.8 Million in a Provider of Insignia and Tactical Products

HOUSTON, June 28, 2023 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment in an industry leading manufacturer and distributor of insignia and tactical products and accessories (the "Company"). Main Street, along with its co-investor, partnered with the Company's management team to facilitate a management led buyout of the Company, with Main Street funding $52.8 million in a combination of first lien, senior secured term debt and a direct equity investment. In addition, Main Street and its co-investor provided the Company with a revolving line of credit to support the Company's future growth initiatives and working capital needs.

The Company, founded in 1943 and headquartered in Providence, Rhode Island, designs, manufactures and distributes branded and private label insignia, tactical products and accessories. The Company has an expansive portfolio of products that are sold to consumers globally through retailers and eCommerce platforms.

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 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, as amended.

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Jesse E. Morris, CFO & COO, jmorris@mainstcapital.com
713-350-6000

Dennard Lascar Investor Relations
Ken Dennard | ken@dennardlascar.com 
Zach Vaughan | zvaughan@dennardlascar.com 
713-529-6600

View original content:https://www.prnewswire.com/news-releases/main-street-announces-new-portfolio-investment-301865301.html

SOURCE Main Street Capital Corporation

FAQ

What is the recent investment made by Main Street Capital Corporation?

Main Street Capital Corporation recently completed a new portfolio investment of $52.8 million in a manufacturer and distributor of insignia and tactical products.

What type of funding did Main Street provide for the investment?

Main Street provided a combination of first lien, senior secured term debt and a direct equity investment for the investment.

What is the purpose of the investment?

The investment will facilitate a management-led buyout of the Company and provide funding for future growth initiatives and working capital needs.

What does the Company do?

The Company designs, manufactures, and distributes branded and private label insignia, tactical products, and accessories.

Where is the Company headquartered?

The Company is headquartered in Providence, Rhode Island.

How long has the Company been in operation?

The Company was founded in 1943.