HOUSTON, July 6, 2017 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce that it recently made a new portfolio investment in
Boccella Precast, LLC ("Boccella" or the "Company"), a manufacturer
of structural precast concrete products. Main Street, along with a
co-investor, partnered with the Company's management team and
Ashland Capital Partners, a Chicago-based private investment firm, to
facilitate the transaction, with Main Street funding $18.6 million in a combination of first-lien,
senior secured term debt and a direct equity investment. In
addition, Main Street and its co-investor are providing Boccella an
undrawn credit facility to support its working capital needs.
Headquartered in Berlin, New
Jersey, and founded in 1969, Boccella is a leading
manufacturer of structural precast concrete products for a client
base predominantly located in the Northeast and Mid-Atlantic
regions of the United States, with
a focus on the New York City
market. The Company's products are used in a variety of
applications including the construction of affordable housing,
dormitories, apartment buildings, condominiums, hotels and
educational facilities.
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 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