Press release from PR Newswire
Main Street Announces New Portfolio Investment
Tuesday, August 06, 2013
Main Street Announces New Portfolio Investment07:00 EDT Tuesday, August 06, 2013
HOUSTON, Aug. 6, 2013 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed a new portfolio investment totaling $5.0 million of invested capital in ASC Interests, LLC ("ASC"). Main Street's investment in ASC consists of $3.5 million in first lien, senior secured debt and a $1.5 million direct equity investment, and the proceeds of Main Street's investment were used by ASC to complete a management-led buyout of ASC Owners Group, LLC, dba American Shooting Centers.
ASC, operating under the name American Shooting Centers since 1989, operates a 563 acre shooting complex located in George Bush Park, Harris County, Texas. ASC is among the premier outdoor shooting facilities in the United States. ASC's complex consists of rifle and pistol shooting lanes, a trap and skeet facility and sporting clays fields.
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 CorporationDwayne L. Hyzak, CFO and Senior Managing Directordhyzak@mainstcapital.com 713-350-6000
Dennard - Lascar Associates, LLCKen Dennard / email@example.com Ben Burnham / firstname.lastname@example.org 713-529-6600
SOURCE Main Street Capital Corporation