This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Main Street Capital Provides First Quarter 2012 Portfolio Activity Update

HOUSTON, April 10, 2012 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") today provided an update of its portfolio investment activity for the first quarter of 2012.

Lower Middle Market Portfolio Investments Update

During the first quarter of 2012, Main Street completed lower middle market ("LMM") portfolio investments totaling $16.5 million, including one previously announced new LMM portfolio company investment totaling $6.8 million and follow on investments in existing LMM portfolio companies totaling $9.7 million.  

On an aggregate basis, Main Street received total repayments of debt principal and return of invested equity capital from the exits and repayments discussed below and additional partial repayments of LMM portfolio debt investments during the first quarter of 2012 of $43.6 million.  

Main Street's significant LMM portfolio activity for the first quarter of 2012 is summarized below:

New LMM Portfolio Company Investment

  • AmeriTech College Operations, LLC - $6.8 million investment in secured, first lien debt; the company is a private, for-profit college focused on providing healthcare training programs such as nursing, medical assisting, medical billing and coding, surgical technicians and dental assisting.

Significant LMM Portfolio Investment Exits

  • Drilling Info, Inc . – full exit of debt investment and partial exit of equity investments; realized gain of $9.2 million on the sale of equity warrant participation and total internal rate of return of 58.3% and 2.6 times money invested on exited investments.
  • NTS Holdings, Inc. – full exit of debt and equity investments; realized payment of $2.5 million of accrued paid-in-kind dividends, realized gain of $1.7 million and total internal rate of return of 24.5% and 1.5 times money invested.
  • Currie Acquisitions, LLC – full exit of debt and equity investments for the full principal amount of the debt investment and a realized loss of $1.8 million on the equity investment.
  • American Sensor Technologies, Inc. – full exit of debt investment for the full principal amount as part of a senior debt refinancing by the portfolio company; Main Street continues to hold its equity warrants in the company.

Middle Market Portfolio Investments Update

In addition to the LMM portfolio investment activity discussed above, Main Street completed middle market portfolio investments, which represent debt investments in businesses that are generally larger in size than Main Street's LMM portfolio companies, totaling $63.4 million during the first quarter of 2012, including investments in thirteen new companies with a weighted average effective yield of approximately 8.7%.  These new middle market investments represent first lien and second lien secured debt investments and include companies operating in the building materials, chemicals, computers & electronics, healthcare, manufacturing, metals & mining, oilfield services and service industries.  In addition, Main Street fully exited eight of its middle market portfolio debt investments during the first quarter of 2012, which together with partial repayments on or sales of other debt securities in existing middle market portfolio companies, represented a total decrease of debt securities principal of $41.6 million during the first quarter of 2012.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street ( www.mainstcapital.com) is a principal investment firm that 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 portfolio.  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.

Contacts: Main Street Capital Corporation Dwayne L. Hyzak, CFO and Senior Managing Director dhyzak@mainstcapital.com 713-350-6000

Dennard Rupp Gray & Lascar, LLC Ken Dennard  |  ksdennard@drg-l.com Ben Burnhambburnham@drg-l.com 713-529-6600

SOURCE Main Street Capital Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs