Main Street Announces New Portfolio Investment
Invests $12.8 Million in Dental Service Organization
HOUSTON, Feb. 20, 2024 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the recapitalization of a leading, multi-location urgent and general care dental service organization located in the Midwestern U.S. (the "Company"). Main Street, along with its co-investor, partnered with the Company's founder and a private investment group to facilitate the transaction, with Main Street funding $12.8 million in a combination of first lien, senior secured term debt and a direct equity investment.
Founded in 2015, the Company operates multiple dental offices throughout mid-sized metropolitan areas and cities in the Midwestern U.S with a primary focus on providing same-day or next-day care. The Company's patient-centric model and dedicated team of dentists and staff are committed to providing the highest quality of care to the Company's burgeoning patient base.
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 investment strategy. 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, as amended.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Jesse E. Morris, CFO & COO, jmorris@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
Released February 20, 2024