HOUSTON, June 24, 2020 /PRNewswire/ -- Main Street Capital
Corporation (NYSE: MAIN) ("Main Street") is pleased to announce
that it recently fully exited its debt and equity investments in
IDX Broker, LLC ("IDX" or the "Company") upon the sale of IDX to a
sponsor-backed strategic acquirer. Founded in 2003 and
headquartered in Eugene, Oregon,
IDX offers the industry's leading software-as-a-service ("SaaS")
search and lead management solution which integrates data feeds
from multiple listing services ("MLS") into websites for real
estate professionals. Main Street realized a gain of
$9.3 million on the exit of its
equity investment in IDX.
Main Street made its initial investment in IDX in 2013,
consisting of a $10.6 million first
lien, senior secured debt investment and a direct equity investment
of $5.0 million. After its
initial investment, Main Street made several additional follow-on
debt and equity investments in IDX to facilitate certain changes to
the Company's capital structure and to support the Company's
ongoing operations and growth initiatives. On a cumulative basis
since Main Street made its initial investment in 2013, Main Street
realized an annual internal rate of return of 15.8% and a 1.9 times
money invested return on its cumulative debt and equity investments
in IDX.
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