Main Street Announces Fourth Quarter 2024 Private Loan Portfolio Activity

PR Newswire

HOUSTON, Jan. 9, 2025

HOUSTON, Jan. 9, 2025 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the following recent activity in its private loan portfolio. During the fourth quarter of 2024, Main Street originated new or increased commitments in its private loan portfolio of $123.4 million and funded total investments across its private loan portfolio with a cost basis totaling $108.0 million.

The following represent notable new private loan commitments and investments during the fourth quarter of 2024:

   -- $42.3 million in a first lien senior secured loan, $8.5 million in a 
      first lien senior secured revolver and $12.7 million in a first lien 
      senior secured delayed draw loan to a provider of janitorial services for 
      the food distribution and grocery end markets; 
 
   -- $31.6 million in a first lien senior secured loan, $5.0 million in a 
      first lien senior secured revolver, $5.0 million in a first lien senior 
      secured delayed draw loan and $1.4 million in equity to a distributor of 
      maintenance and repair parts for the industrial, manufacturing and 
      automotive end markets; and 
 
   -- Increased commitment of $11.2 million in an incremental first lien senior 
      secured loan to a provider of dietary supplements and other natural 
      solutions focused on gut health. 

As of December 31, 2024, Main Street's private loan portfolio included total investments at cost of approximately $2.0 billion across 91 unique borrowers. The private loan portfolio, as a percentage of cost, included 95.4% invested in first lien debt investments and 4.6% invested in equity investments or other securities.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. 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 customized "one-stop" debt and equity financing alternatives within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.

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

Ryan R. Nelson, CFO, rnelson@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

(END) Dow Jones Newswires

January 09, 2025 07:00 ET (12:00 GMT)