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Main Street Capital Provides Fourth Quarter 2011 Portfolio Activity Update

HOUSTON, Jan. 9, 2012 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") today provided an update of its portfolio investment activity for the fourth quarter of 2011.

Lower Middle Market Portfolio Investments Update

During the fourth quarter of 2011, Main Street completed lower middle market ("LMM") portfolio investments totaling $42.7 million in five previously announced new LMM portfolio companies. Other than the previously announced exit of Main Street's investment in Merrick Systems, Inc., there were no other significant exits of LMM portfolio investments during the fourth quarter of 2011 and there were additional partial repayments and sales of LMM portfolio debt investments during the fourth quarter of 2011 which totaled approximately $8.1 million. Main Street's new LMM portfolio investments included investments in the following portfolio companies:

  • RMB, Inc. and Gault Financial, LLC$10.5 million investment in first lien secured debt with equity warrant participation; the company is a healthcare revenue cycle management company serving customers nationwide.
  • Radial Drilling Services Inc. $4.2 million investment in first lien secured debt with equity warrant participation; the company is a provider of patented technologies, equipment and personnel to increase production in mature oil and gas wells using radial drilling through modified coiled tubing technology.
  • SAMBA Holdings, Inc. – $4.0 million investment, consisting of $3.0 million in first lien secured debt and $1.0 million in direct equity; the company is a leading provider of fleet compliance software and services to car and truck fleet owners.
  • Willis Group, LLC $9.0 million investment in first lien secured debt; the company is a provider of staffing and recruitment services through three specialized brands.
  • NRP Jones, LLC $15.0 million investment, consisting of $12.1 million in first lien secured debt and $2.9 million in direct equity; the company manufactures hydraulic, industrial, and oilfield hoses, fittings and assemblies for both original equipment manufacturers and hose and fitting distributors.

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