HOUSTON, Jan. 9, 2025
/PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main
Street") is pleased to announce the following recent activity in
its private loan portfolio. During the fourth quarter of 2024, Main
Street originated new or increased commitments in its private loan
portfolio of $123.4 million and
funded total investments across its private loan portfolio with a
cost basis totaling $108.0
million.
The following represent notable new private loan commitments and
investments during the fourth quarter of 2024:
- $42.3 million in a first lien
senior secured loan, $8.5 million in
a first lien senior secured revolver and $12.7 million in a first lien senior secured
delayed draw loan to a provider of janitorial services for the food
distribution and grocery end markets;
- $31.6 million in a first lien
senior secured loan, $5.0 million in
a first lien senior secured revolver, $5.0
million in a first lien senior secured delayed draw loan and
$1.4 million in equity to a
distributor of maintenance and repair parts for the industrial,
manufacturing and automotive end markets; and
- Increased commitment of $11.2
million in an incremental first lien senior secured loan to
a provider of dietary supplements and other natural solutions
focused on gut health.
As of December 31, 2024, Main Street's private loan
portfolio included total investments at cost of approximately
$2.0 billion across 91 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 customized long-term debt and equity
capital solutions to lower middle market companies and debt capital
to private companies owned by or in the process of being acquired
by a private equity fund. 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 customized "one-stop" debt and equity financing
alternatives within its lower middle market investment strategy.
Main Street seeks to partner with private equity fund sponsors and
primarily invests in secured debt investments in its private loan
investment strategy. Main Street's lower middle market portfolio
companies generally have annual revenues between $10 million and $150
million. Main Street's private loan portfolio companies
generally have annual revenues between $25
million and $500 million.
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
Ryan R. Nelson, CFO,
rnelson@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