HOUSTON, Feb. 7, 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
majority recapitalization of NuStep, Inc. ("NuStep" or the
"Company"), the leading manufacturer of recumbent cross-trainers
focused primarily on the physical therapy, physical rehabilitation
and active aging markets. Main Street, along with a
co-investor, partnered with the Company's management team to
facilitate the recapitalization of the Company, with Main Street
funding $30.8 million in a
combination of first-lien, senior secured term debt and direct
equity investment.
Headquartered in Ann Arbor,
Michigan, the Company serves customers across a variety of
end markets, including physical therapy and rehabilitation clinics,
skilled nursing facilities, fitness centers, hospitals, retirement
communities and individual consumers. The Company
manufactures all of its products at its manufacturing facilities in
Ann Arbor and sells its products
throughout the United States and
across a wide variety of international markets.
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