Main Street Capital Announces Three New Core Portfolio Investments

HOUSTON, May 6 /PRNewswire-FirstCall/ -- Main Street Capital Corporation (Nasdaq: MAIN) ("Main Street") announced today that it has completed three new core portfolio investments collectively totaling $26.5 million in invested capital.

As part of the new core portfolio additions, Main Street recently closed a $16.0 million investment in one of the largest and fastest growing independent providers of trench safety solutions for underground maintenance and construction activities in the United States. In addition to renting and selling specialized trench safety equipment, the company provides complementary traffic control equipment and other services needed to support its customers' comprehensive trench safety requirements. Main Street's investment consisted of a second lien, secured debt investment, a preferred equity investment and a common equity investment. Main Street's debt and equity investments were made in connection with the company's overall debt refinancing and replacement of its prior institutional investor group. Through this new investment, Main Street acquired a majority equity position in the company with the founders and management holding the balance of the ownership.  

Main Street also recently closed a $3.0 million new investment in a provider of information technologies to mid-stream and upstream energy companies. The company's technology solutions improve production operations through automation technology that extends the economic life of producing properties, lowers lifting costs, increases production and optimizes overall operations. The company's technology solutions and services support operations, engineering and back office functionality for many of the largest energy companies in the world. Main Street's investment consisted of a first lien, secured debt investment with equity warrant participation. Main Street's investment was made to support the company's various growth initiatives.

Main Street also recently closed a $7.5 million investment in a leading venue-based media and marketing company that provides integrated "out-of-home" advertising solutions to its clients. Through various media platforms, the company enables its clients to reach consumers in highly attractive leisure, recreation and travel settings. The Company's client base includes direct relationships with a diverse group of blue-chip companies, brands and advertisers. Main Street's investment consisted of a first lien, secured debt investment. Main Street's investment was made as part of a re-financing and to support growth initiatives.

In addition to the new core portfolio investments, Main Street has invested $13.8 million during 2010 in four privately placed, interest-bearing portfolio debt securities with a weighted average interest coupon of 12.8%.

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.  Main Street's investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million.  Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives to its portfolio companies.

Contacts:

Main Street Capital Corporation

Todd A. Reppert, President and CFO

treppert@mainstcapital.com / 713-350-6000



Dennard Rupp Gray and Easterly, LLC

Ken Dennard

ksdennard@drg-e.com / 713-529-6600

Ben Burnham

bburnham@drg-e.com / 713-529-6600

SOURCE Main Street Capital Corporation