HOUSTON, April 7, 2021 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce that it recently completed a new portfolio investment to
facilitate the minority recapitalization of Grand Flower Growers,
LLC and its related entities (together, "GFG" or the "Company"), a
leading grower and distributor of a variety of plants and premium
flowers, including annuals, mums, poinsettias, perennials and
various other floral arrangements in the midwestern United States. Main Street, along with its
co-investor, partnered with the Company's existing owners and
senior management team to facilitate the transaction and provide
growth capital, with Main Street funding $20.6 million in a combination of senior secured
term debt and a minority direct equity investment.
Founded in 1999 and operating from three greenhouses with over
700,000 square feet in Wayland,
Michigan, GFG propagates, plants and grows various types of
flowers and plant types for Home Depot garden centers in and around
the greater Chicago metropolitan
area.
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, through its wholly owned portfolio company MSC
Adviser I, LLC ("MSC Adviser"), also maintains an asset management
business through which it manages investments for external
parties. MSC Adviser is registered as an investment adviser
under the Investment Advisers Act of 1940.
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