HOUSTON, Feb. 9, 2017 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce that it recently led a new portfolio investment to
facilitate the management-led buyout of Charps Welding &
Fabricating, Inc. ("Charps" or the "Company"), a premier specialty
contractor focused on the maintenance, repair, fabrication and
construction of oil and gas pipelines. Main Street, along
with a co-investor, partnered with the Company's management team to
facilitate the buyout, with Main Street funding $18.8 million in a combination of first-lien,
senior secured term debt and a direct equity
investment.
Headquartered in Clearbrook,
Minnesota, and founded in 1999, Charps (www.charps.com)
provides various pipeline services to customers focused on energy
transmission and distribution. The Company primarily performs
work in the Midwest, Ohio Valley and Eastern U.S., and its pipeline
services include pipeline integrity services, emergency response,
hydrostatic testing, existing line replacement, pipeline
fabrication and new construction and installation.
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."
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, President &
COO, dhyzak@mainstcapital.com
Brent D. Smith, CFO,
bsmith@mainstcapital.com
713-350-6000
Dennard - Lascar Associates
Ken Dennard |
ken@dennardlascar.com
Mark Roberson |
mroberson@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation