Main Street Announces Follow-On Portfolio Investment
Main Street Capital (NYSE: MAIN) has announced a significant follow-on investment in its portfolio company Flame King Holdings. The investment includes $66.0 million in first-lien, senior secured term debt to facilitate a minority recapitalization, along with a revolving line of credit to support growth initiatives and working capital needs.
Flame King, initially invested in by Main Street in October 2021, is a California-based leading supplier of propane storage solutions and accessories. The company, founded in 1998, serves diverse customers through retailers, propane tank exchangers, RV OEMs, and eCommerce platforms, offering steel and aluminum propane cylinders ranging from 1 lb. to 420 lbs.
Main Street Capital (NYSE: MAIN) ha annunciato un importante investimento aggiuntivo nella sua societ脿 in portafoglio Flame King Holdings. L'investimento comprende 66,0 milioni di dollari in debito a termine senior garantito di primo grado per agevolare una ricapitalizzazione minoritaria, insieme a una linea di credito revolving per sostenere iniziative di crescita e necessit脿 di capitale circolante.
Flame King, inizialmente investita da Main Street nell鈥檕ttobre 2021, 猫 un fornitore leader con sede in California di soluzioni di stoccaggio del propano e accessori. Fondata nel 1998, l鈥檃zienda serve una clientela diversificata attraverso rivenditori, scambiatori di serbatoi di propano, produttori OEM di veicoli ricreazionali e piattaforme di eCommerce, offrendo cilindri di propano in acciaio e alluminio che variano da 1 lb a 420 lbs.
Main Street Capital (NYSE: MAIN) ha anunciado una inversi贸n adicional significativa en su empresa en cartera Flame King Holdings. La inversi贸n incluye 66,0 millones de d贸lares en deuda a t茅rmino senior garantizada de primer grado para facilitar una recapitalizaci贸n minoritaria, junto con una l铆nea de cr茅dito revolvente para apoyar iniciativas de crecimiento y necesidades de capital de trabajo.
Flame King, inicialmente invertida por Main Street en octubre de 2021, es un proveedor l铆der con sede en California de soluciones de almacenamiento de propano y accesorios. Fundada en 1998, la empresa atiende a una clientela diversa a trav茅s de minoristas, intercambiadores de tanques de propano, fabricantes OEM de veh铆culos recreativos y plataformas de comercio electr贸nico, ofreciendo cilindros de propano de acero y aluminio que van desde 1 lb hasta 420 lbs.
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Flame King鞚� 2021雲� 10鞗� Main Street臧� 觳橃潓 韴瀽頃� 旌橂Μ韽媹鞎� 旮半皹鞚� 頂勲韺� 鞝�鞛� 靻旊（靺� 氚� 鞎§劯靹滊Μ 靹犽弰 瓿店笁鞐呾泊鞛呺媹雼�. 1998雲勳棎 靹る霅� 鞚� 須岇偓電� 靻岆Г鞐呾泊, 頂勲韺� 韮表伂 甑愴櫂鞐呾泊, RV OEM 氚� 鞝勳瀽靸侁卑霝� 頂岆灚韽检潉 韱淀暣 雼れ枒頃� 瓿犼皾鞐愱矊 1韺岇毚霌滌棎靹� 420韺岇毚霌滉箤歆�鞚� 臧曥矤 氚� 鞎岆（氙鸽妱 頂勲韺� 鞁るΠ雿旊ゼ 鞝滉车頃╇媹雼�.
Main Street Capital (NYSE: MAIN) a annonc茅 un investissement compl茅mentaire significatif dans sa soci茅t茅 de portefeuille Flame King Holdings. L鈥檌nvestissement comprend 66,0 millions de dollars de dette senior garantie de premier rang 脿 terme pour faciliter une recapitalisation minoritaire, ainsi qu鈥檜ne ligne de cr茅dit renouvelable pour soutenir les initiatives de croissance et les besoins en fonds de roulement.
Flame King, initialement investi par Main Street en octobre 2021, est un fournisseur leader bas茅 en Californie de solutions de stockage de propane et d鈥檃ccessoires. Fond茅e en 1998, l鈥檈ntreprise sert une client猫le diversifi茅e via des d茅taillants, des 茅changeurs de r茅servoirs de propane, des fabricants OEM de v茅hicules de loisirs et des plateformes de commerce 茅lectronique, offrant des cylindres de propane en acier et en aluminium allant de 1 lb 脿 420 lbs.
Main Street Capital (NYSE: MAIN) hat eine bedeutende Folgeinvestition in sein Portfoliounternehmen Flame King Holdings angek眉ndigt. Die Investition umfasst 66,0 Millionen US-Dollar an vorrangigen, besicherten Terminkrediten zur Erm枚glichung einer Minderheitsrekapitalisierung sowie eine revolvierende Kreditlinie zur Unterst眉tzung von Wachstumsinitiativen und Betriebskapitalbedarf.
Flame King, urspr眉nglich von Main Street im Oktober 2021 investiert, ist ein in Kalifornien ans盲ssiger f眉hrender Anbieter von Propanspeicherl枚sungen und Zubeh枚r. Das 1998 gegr眉ndete Unternehmen bedient eine vielf盲ltige Kundschaft 眉ber Einzelh盲ndler, Propantanktauscher, OEMs f眉r Freizeitfahrzeuge und E-Commerce-Plattformen und bietet Stah- und Aluminiumpropangaszylinder von 1 lb bis 420 lbs an.
- Additional $66.0 million investment demonstrates confidence in existing portfolio company
- Provision of revolving credit line supports future growth initiatives
- Investment strengthens relationship with established portfolio company from October 2021
- Increased debt exposure to single portfolio company
- Additional leverage on Flame King's balance sheet through new debt
Invests
Founded in 1998 and headquartered in
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street () is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. 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 customized "one-stop" debt and equity financing alternatives within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between
Main Street, through its wholly owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, [email protected]
Ryan R. Nelson, CFO, [email protected]聽 聽 聽 聽 聽 聽 聽 聽
713-350-6000
Dennard Lascar Investor Relations
Ken Dennard | [email protected]听听
Zach Vaughan | [email protected]
713-529-6600
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SOURCE Main Street Capital Corporation
FAQ
What is the size of Main Street Capital's (NYSE: MAIN) new investment in Flame King Holdings?
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