HOUSTON, Jan. 4, 2012 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed a new portfolio investment totaling $15.0 million in invested capital.
Main Street's investment in NRP Jones, LLC ("NRP Jones" or the "Company") supported (i) the acquisition of the NRP Jones group of companies, including J Group, Inc. and Screw Machine Products, Inc., by Main Street and a group of private investors, and (ii) the Company's product expansion and corporate growth initiatives. Main Street's investment consists of $12.1 million in first lien secured debt and a $2.9 million direct equity investment.
Founded in 1945, NRP Jones is headquartered in La Porte, Indiana, with additional operations in Nephi, Utah, and Houston, Texas. NRP Jones manufactures hydraulic, industrial, and oilfield hoses, fittings and assemblies for both original equipment manufacturers and for hose and fitting distributors. The Company serves customers in the oil and natural gas drilling, agricultural, transportation, construction, and mining industries. NRP Jones is a leading provider of rotary hose, and the Company manufactures its hoses and fittings in company-owned facilities in La Porte, Indiana, and Nephi, Utah.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. Main Street's lower middle market investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio. Main Street also maintains a portfolio of privately placed, interest-bearing debt investments in middle market businesses that are generally larger in size than its lower middle market portfolio companies. Contacts: Main Street Capital Corporation Dwayne L. Hyzak, CFO and Senior Managing Director firstname.lastname@example.org 713-350-6000 Dennard Rupp Gray & Lascar, LLCKen Dennard | email@example.com Ben Burnham | firstname.lastname@example.org 713-529-6600
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV