HOUSTON, Sept. 14, 2011 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed a new lower middle market portfolio investment totaling approximately $6.8 million in invested capital.
The investment was made to support the acquisition of the assets and business of a dedicated investigative facility (the "Company"), which conducts clinical trials for the pharmaceutical industry, by a group of private investors. Main Street's investment consists of $6.3 million in first lien secured debt and a $0.5 million direct equity investment.
Staffed by physicians and support personnel, the Company recruits and treats patients with later stage drugs in development by its pharmaceutical company clients. The Company's primary focus is on Phase II and Phase III metabolic disease trials, principally in diabetes, hypertension and obesity. The Company is headquartered in California.
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.
SOURCE Main Street Capital Corporation
Copyright©2010 PR Newswire.
All rights reserved
Related medicine technology :
1. Dr. Ari Kiev to be Featured Speaker at Biotechnology Conference Wall Street Unplugged: The Trout Group Investor Seminar in New York July 30
2. Internal Fixation Systems to Sponsor and Exhibit at Wallstreet Spring Break Growth and Value Investor Conference in Fort Lauderdale, FL March 3-4, 2010
3. Water Street Healthcare Partners Signs Definitive Agreement to Sell Sierra Scientific Instruments to Given Imaging
4. 4-Star General-Former U.S. Drug Czar Barry McCaffrey Featured At Tacoma Treatment Solutions 5-Year Anniv: Mon. May 24, 11 a.m., 9500 Front Street, Lakewood WA 98499
5. Water Street Healthcare Partners Announces New Investment in Medical Specialties Distributors, LLC
6. Cardiogenesis Executive Chairman Paul J. McCormick Updates Commercial and Regulatory Progress in Interview With Wall Street Reporter, Available Online
7. ADVENTRX to Present at the Wall Street Analyst Forum 21st Annual Institutional Investor Conference on November 11
8. Water Street Healthcare Partners Acquires OraPharma, Inc.
9. TPI 2010 Shareholder Annual Meeting on 3/21/11 to Be Held at 100 Wall Street, near NYSE
10. Water Street Healthcare Partners Acquires MarketLab, Inc.
11. Poniard Pharmaceuticals Provides Year-End Clinical Update at 2007 Lazard Capital Markets Healthcare Conference