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Aug. 8, 2013 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed a follow on investment in an existing portfolio company totaling $20.0 million in invested capital.
Main Street's follow on investment in Daseke, Inc. ("Daseke", f/k/a Walden Smokey Point, Inc.), supported Daseke's addition of Central Oregon Truck Company, Inc. ("COTC"). Founded in 1992 and based in
Redmond, Oregon, COTC provides dedicated flatbed transportation and logistical services to the contiguous
United States as well as parts of
Canada. Main Street's follow on investment consists of
$20.0 million in second lien, senior subordinated secured debt.
Addison, Texas, Daseke is the parent company of E.W. Wylie Corporation, based in
West Fargo, ND; Smokey Point Distributing, Inc., based in
Arlington, WA; and
J. Grady Randolph, Inc., based in
Gaffney, SC (the "Company"). The Company provides specialized flatbed transportation and logistical services to 49 states and
Canada. The addition of COTC provides additional industry and geographical diversification, while adding scale to the Company's fleet, facilities, management and driver lineup. Main Street made its initial investment in Daseke during the fourth quarter of 2008.
ABOUT MAIN STREET CAPITAL CORPORATIONMain 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.
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."