Main Street Announces New Portfolio Investment
Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it recently closed a new portfolio investment totaling $11.7 million of invested capital in Indianhead Pipeline Services, LLC ("Indianhead Pipeline"). Main Street's investment in Indianhead Pipeline consists of $10.0 million in first lien, senior secured debt with equity warrant participation and a $1.7 million direct equity investment.
Indianhead Pipeline is headquartered in Eau Claire, Wisconsin, and provides products and support services to transcontinental pipeline construction companies in North America. Indianhead Pipeline's service offering primarily consists of buoyancy control, site preparation and restoration, foam services and erosion control. Main Street partnered with Indianhead Pipeline's founder and third party investors to facilitate the recapitalization and growth financing of Indianhead Pipeline.
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