Main Street Announces New Portfolio Investment

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Feb 10, 2015, 07:00 ET

HOUSTON, Feb. 10, 2015 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently participated in a new portfolio investment totaling $24.0 million of invested capital in Berry Aviation, Inc. ("Berry" or the "Company") with Main Street funding $6.4 million of the investment. Main Street's portion of the investment in Berry included $6.0 million of secured subordinated term debt and a $0.4 million equity investment for a minority equity ownership position in the Company. Main Street and its co-investors partnered to facilitate a minority recapitalization of the Company and to support the Company's growth initiatives.

Headquartered in San Marcos, Texas, Berry (www.berryaviation.com) is a full service aviation business that provides air carrier and concierge services to both private sector and public clients, including the United States Department of Defense ("U.S. DOD") and other governmental agencies. The Company's primary lines of business are passenger and freight charter services as well as aircraft maintenance and parts services. Berry provides remote site and mission critical airlift services for the U.S. DOD internationally, including passenger and cargo transport, aerial delivery and emergency medical evacuation. The Company also operates a fixed based operator (FBO) facility at the San Marcos, Texas Municipal Airport. Berry was founded in 1983 by Sonny Berry, who currently serves as Chairman, President, and CEO of the Company.

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.

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."

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, COO, [email protected]
Brent D. Smith, CFO, [email protected]
713-350-6000

Dennard - Lascar Associates, LLC
Ken Dennard | [email protected]
Jenny Zhou | [email protected]
713-529-6600

SOURCE Main Street Capital Corporation