Aug. 6, 2013
/PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today the appointment of a new independent member to its Board of Directors (the "Board").
The new independent director is
John E. Jackson
, the Chief Executive Officer of Spartan Energy Partners, LP (
). Spartan provides comprehensive solutions for the treating and conditioning of produced natural gas. Prior to founding Spartan, Mr. Jackson was the Chairman and Chief Executive Officer of Price Gregory Services, Inc., a leading energy infrastructure services provider. Prior to Price Gregory, Mr. Jackson served as President and Chief Executive Officer of Hanover Compressor Company, now known as Exterran Holdings, Inc. Prior to that, Mr. Jackson held several positions at Duke Energy Field Services, including Chief Financial Officer, and Union Pacific Resources.
"We welcome John to the Board and believe he will bring a unique perspective to Main Street based on his varied industry and corporate leadership roles," commented
Vincent D. Foster
, Main Street's Chairman, President and Chief Executive Officer. "In addition, John's appointment will increase the number of independent directors on Main Street's Board from four to five."
Simultaneous with Mr. Jackson's appointment to the Board,
Todd A. Reppert
retired from his Executive Vice Chairman and Board member roles at Main Street. Mr. Reppert's retirement is in conjunction with a new investment initiative led by him which will focus on making debt and equity investments in private U.S. companies that are generally smaller than those currently being pursued by Main Street for investment. Mr. Reppert will remain involved in managing Main Street's wholly owned Small Business Investment Company funds while certain regulatory approvals are sought.
"Todd is a co-founder of Main Street and has been instrumental in our success, both prior to and since our initial public offering in 2007. We wish him continued personal success as he pursues an attractive and under-served sub-sector within the U.S. economy. We look forward to continuing our close relationship with Todd," commented
Vincent D. Foster
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (
) 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.
Main Street's common stock trades on the New York Stock Exchange ("NYSE") under the symbol "MAIN." In addition, Main Street has outstanding 6.125% Notes due 2023, which trade on the NYSE under the symbol "MSCA."