Main Street Capital Announces Exit of Portfolio Investment
Main Street Capital Corporation (NYSE: MAIN) announced today that it has fully exited its debt and equity investment in Merrick Systems.
Main Street completed the exit of its debt and equity interest in Merrick as part of a majority equity investment in Merrick by HitecVision, a Norwegian-based private equity investor focused on the international oil and gas industry. Main Street made its investment in Merrick, which consisted of a first lien, secured debt investment with equity warrant participation, during May 2010 to support the Company's various growth initiatives. Main Street realized a total internal rate of return of 41% on its investment in the Company.
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