Main Street Capital Announces New Portfolio Investment

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Jan 04, 2012, 06:00 ET

HOUSTON, Jan. 4, 2012 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed a new portfolio investment totaling $15.0 million in invested capital.

Main Street's investment in NRP Jones, LLC ("NRP Jones" or the "Company") supported (i) the acquisition of the NRP Jones group of companies, including J Group, Inc. and Screw Machine Products, Inc., by Main Street and a group of private investors, and (ii) the Company's product expansion and corporate growth initiatives. Main Street's investment consists of $12.1 million in first lien secured debt and a $2.9 million direct equity investment.

Founded in 1945, NRP Jones is headquartered in La Porte, Indiana, with additional operations in Nephi, Utah, and Houston, Texas. NRP Jones manufactures hydraulic, industrial, and oilfield hoses, fittings and assemblies for both original equipment manufacturers and for hose and fitting distributors. The Company serves customers in the oil and natural gas drilling, agricultural, transportation, construction, and mining industries. NRP Jones is a leading provider of rotary hose, and the Company manufactures its hoses and fittings in company-owned facilities in La Porte, Indiana, and Nephi, Utah.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies. Main Street's lower middle market investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. 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 also maintains a portfolio of privately placed, interest-bearing debt investments in middle market 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
[email protected]
713-350-6000

Dennard Rupp Gray & Lascar, LLC
Ken Dennard | [email protected]
Ben Burnham | [email protected]
713-529-6600

SOURCE Main Street Capital Corporation