HOUSTON, March 11, 2020 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce that it recently completed a new portfolio investment in
Cody Pools, Inc. ("Cody" or the "Company"), a leading designer and
builder of premium, highly customized swimming pools and spas for
residential and commercial customers in the United States.
Main Street, along with its co-investors, partnered with the
Company's senior management team to facilitate the transaction,
with Main Street funding $24.4
million in a combination of first-lien, senior secured term
debt and a direct equity investment. In addition, Main Street and
one of its co-investors are providing Cody with a credit facility
to support its future growth initiatives and working capital
needs.
Cody (www.codypools.com), founded in 1994, has built over 12,000
pools throughout its history and has expanded its Austin-based operations to include
San Antonio, Houston, and Tampa. In each of the past seven years,
Pool and Spa News, the largest publication in the swimming
pool and hot tub industry, has ranked Cody as the "#1 Pool Builder
in the Nation".
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.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Brent D. Smith, CFO,
bsmith@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