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Main Street Announces New Portfolio Investments
By: PR Newswire
Dec. 31, 2012 06:00 AM
HOUSTON, Dec. 31, 2012 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed two new lower middle market portfolio investments totaling $35.1 million in invested capital.
Main Street recently closed a $21.1 million investment in Bond-Coat, Inc. ("Bond-Coat"). Main Street's investment in Bond-Coat consists of $14.8 million in first lien, senior secured debt and a $6.3 million direct equity investment. Founded in 1964, Bond-Coat provides external casing and tubing coating for corrosion prevention and cement adhesion. Bond-Coat is headquartered Odessa, Texas and primarily serves upstream oil and gas customers throughout the Permian Basin. Bond-Coat also has operations abroad via a joint venture in Oman. Main Street partnered with Bond-Coat's management team and third party investors to facilitate the recapitalization and growth financing of Bond-Coat.
Main Street also recently closed a $14.0 million investment in Marine Shelters Holdings, LLC d/b/a/ LoneStar Marine Shelters ("LoneStar"), with Main Street's investment in LoneStar including an investment in first lien, senior secured debt and a direct equity investment. Headquartered in Galveston, Texas, LoneStar is an experienced ISO 9001 certified custom marine building fabricator specializing in high blast rated and high fire rated buildings for the offshore oil and gas industry. Main Street partnered with LoneStar's management team to facilitate the recapitalization of LoneStar and support LoneStar's future growth.
ABOUT MAIN STREET CAPITAL CORPORATION
SOURCE Main Street Capital Corporation
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