The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from PR Newswire

Main Street Announces New Portfolio Investment

Friday, August 09, 2013

Main Street Announces New Portfolio Investment

07:00 EDT Friday, August 09, 2013

HOUSTON, Aug. 9, 2013 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it closed a new portfolio investment totaling $16.8 million of invested capital in Southern RV, LLC and Southern RV Real Estate, LLC (collectively, "Southern RV"). Main Street's investment in Southern RV consists of $14.6 million in first lien, senior secured term debt, of which $3.3 million is a first lien mortgage loan, and a $2.2 million direct equity investment.

Southern RV is one of the largest dealers of new and used recreational vehicles ("RV") and related services in the Gulf Coast region.   Founded in 2000, Southern RV operates under the Southern RV Supercenter name and offers more than 20 brands of RVs at its dealerships in Bossier City, LA, Tyler, TX, and Lafayette, LA. Southern RV Real Estate, LLC owns the real property assets of Southern RV's Bossier City, LA and Tyler, TX locations. Main Street partnered with Southern RV's founders and management team, who collectively contributed approximately $4.0 million in equity capital, to facilitate the recapitalization and growth financing of Southern RV.

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  |  ken@dennardlascar.com Ben Burnham |  ben@dennardlascar.com 713-529-6600

SOURCE Main Street Capital Corporation

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Secure Service
Customer Service
Advertising Privacy
Globe Recognition
Mobile Apps
NEWS APP
Other Sections