Main Street Announces New Portfolio Investment

PR Newswire

HOUSTON, March 25, 2025

Invests $49.3 Million in Recapitalization of Moffitt Holdings, LLC

HOUSTON, March 25, 2025 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment totaling $49.3 million to facilitate the minority recapitalization of Moffitt Holdings, LLC, dba Moffitt Services ("Moffitt" or the "Company"), a leading bulk fuel and lubricant distribution solutions provider for a diverse group of industries. Main Street partnered with Moffitt's founders and management team to facilitate the minority recapitalization. Main Street's investment in the Company includes a combination of first-lien, senior secured term debt and a direct equity investment.

Founded in 2014 and headquartered in Cypress, Texas, Moffitt is a leading distributor of fuels and lubricants in both core and emergency applications, with a complementary rental business that owns assets critical for various disaster response services nationwide. Moffitt primarily serves the Texas market but has the capacity to service most of the continental United States.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) 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 $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.

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, dhyzak@mainstcapital.com

Ryan R. Nelson, CFO, rnelson@mainstcapital.com

713-350-6000

Dennard Lascar Investor Relations

Ken Dennard | ken@dennardlascar.com

Zach Vaughan | zvaughan@dennardlascar.com

713-529-6600

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SOURCE Main Street Capital Corporation

(END) Dow Jones Newswires

March 25, 2025 07:00 ET (11:00 GMT)