HOUSTON, Jan. 3, 2024
/PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN)
("Main Street") is pleased to announce that it
recently completed a follow-on investment in an existing portfolio
company. Main Street, along with its co-investor, and alongside
additional equity investments by the existing owners and management
of the portfolio company, made the follow-on investment in Johnson
Downie Opco, LLC ("Johnson
Downie" or the "Company") to
facilitate the Company's organic and inorganic growth initiatives.
Main Street's portion of the follow-on investment consists of an
additional $14.9 million first lien,
senior secured term debt investment and a $0.5 million direct equity investment.
Founded in 2006 and based in Houston,
Texas, Johnson Downie
specializes in retained, exclusive partner-level recruiting
engagements for the world's elite law firms. Over the past decade,
Johnson Downie has assisted with the
launching of over 25 law firm offices and placed more than 1,000
law firm partners. It is anticipated that the follow-on investment
will expand Johnson Downie's
geographic and market coverage to other legal firms and
locations.
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