Invests $31.3
Million in MetalForming, LLC
HOUSTON, Oct. 27,
2022 /PRNewswire/ -- Main Street Capital
Corporation (NYSE: MAIN) ("Main Street") is pleased to announce
that it recently completed a new portfolio investment in
MetalForming, LLC ("MetalForming" or the "Company") to facilitate
the recapitalization of the Company. MetalForming is the largest
distributor of metal folding machines in the world, and the largest
supplier of high-end architectural sheet metal machines in North
America. MetalForming is the exclusive distributor of
sophisticated European sheet metal forming, cutting, bending, and
coil handling machines to the North American market. Main Street,
along with its co-investor, partnered with a private investment
group that invests in middle-market manufacturing, service and
distribution businesses, MetalForming's management team and
MetalForming's founder and existing owner to facilitate the
transaction and provide growth capital, with Main Street funding
$31.3 million in a combination of
first lien, senior secured term debt and a direct equity
investment. In addition, Main Street and its co-investor also
provided MetalForming with a revolving line of credit to support
the Company's future growth initiatives and working capital
needs.
Founded in 1997 and headquartered in Peachtree City, Georgia, MetalForming is the
exclusive North American provider of a wide array of high-quality
sheet metal processing machines produced by European OEMs. In
addition to its diverse machine portfolio, MetalForming
distinguishes itself by offering comprehensive support to
customers, including expert installation services, maintenance and
repair services and parts support.
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