Invests $25.9
Million in Nebraska Vet AcquireCo, LLC to Support
Acquisition
HOUSTON, May 14, 2024
/PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN)
("Main Street") is pleased to announce that it recently completed a
follow-on investment totaling $25.9
million in Nebraska Vet AcquireCo, LLC, dba Heritage Vet
Partners, P.C. ("Heritage" or the "Company"). Main Street completed
the follow-on investment in Heritage to support the Company's
acquisition of Muleshoe Animal Clinic, PLLC, Muleshoe Vet Labs, LLC
and Muleshoe Vet Supply, LP (collectively "Muleshoe"), a mixed animal practice in
Muleshoe, Texas that provides
veterinary services, products and supplies, as part of Heritage's
ongoing acquisition growth strategy. The follow-on investment
consists of an additional first lien, senior secured term loan
totaling $25.9 million and represents
Main Street's ninth follow-on investment in Heritage.
Founded in 1985 and headquartered in West Point, Nebraska, Heritage is the leading
national provider of rural, mixed and large animal veterinary
services and products to livestock producers and companion animal
owners throughout the United
States. Main Street originally invested in Heritage in
December 2020 in partnership with
Heritage's existing owners and senior management team to facilitate
a minority recapitalization of the Company and provide growth
capital to help facilitate the Company's acquisition growth
strategy in the rural, mixed and large animal veterinary space.
Since Main Street's initial investment in Heritage, the Company has
now completed fourteen acquisitions, significantly enhancing the
platform and expanding its presence across the United States.
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 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 investment strategy. Main Street's lower middle market
portfolio companies generally have annual revenues between
$10 million and $150 million. Main Street's middle market
portfolio companies are generally larger in size than its lower
middle market portfolio companies.
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
Jesse E. Morris, CFO & COO,
jmorris@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard |
ken@dennardlascar.com
Zach Vaughan |
zvaughan@dennardlascar.com
713-529-6600
View original
content:https://www.prnewswire.com/news-releases/main-street-announces-follow-on-investment-302144310.html
SOURCE Main Street Capital Corporation