New ETF Book by Larry Connors - Click here to read more
Main Street provided IAP with debt and equity financing in connection with the acquisition of a Fixed Base Operation ("FBO"), located at the Indianapolis International Airport, that was previously owned by Signature Flight Support Corporation and, at an earlier date, by Hawker Beechcraft Services, Inc. The IAP facility currently operates within the "Million Air" group and will utilize the "Million Air" brand name. Main Street's $3.3 million new portfolio investment in IAP consists of a first lien, secured debt investment with equity warrant participation and a direct preferred equity investment made on the same terms as IAP's other equity investors. Main Street's fully diluted equity interest in IAP is approximately 18%. IAP provides various aviation support services, including fueling, storage, and numerous ground services to general aviation, fractional fleet and commercial customers. IAP is one of two FBO operators at the Indianapolis International Airport and benefits from a newly constructed FBO facility, over 57,000 sq. ft. of FBO and hangar storage space, and a long-term ground lease with the airport. In addition, Main Street has made a $5.0 million investment in TMEC consisting of a first lien, secured debt investment and a direct common equity investment. Main Street's fully diluted equity interest in TMEC is 30%. TMEC is a designer, distributor and representative for manufacturers which specializes in heat transfer, filtration equipment and related services. TMEC delivers custom engineered solutions for heavy commercial and industrial applications in the power, chemical, refining and oil/natural gas industries. TMEC also offers filtration equipment and replacement filters primarily oriented to the rotating equipment suppliers of gas turbines and compressors. Main Street also made an investment in Compact Power with an initial commitment for a $1.8 million first lien, secured debt investment with equity participation representing approximately 7% of the fully diluted equity interests in Compact Power. Compact Power is a light to medium duty equipment rental operation that owns and operates outdoor equipment rental locations, most of which are co-located at The Home Depot retail stores. Main Street made its investment in Compact Power as a co-investment in partnership with two other institutional investors. ABOUT MAIN STREET CAPITAL CORPORATION Main Street (www.mainstcapital.com) is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street's 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 to its portfolio companies.
Contacts:
Main Street Capital Corporation
Todd A. Reppert, President and CFO
treppert@mainstcapital.com
713-350-6000
Dennard Rupp Gray and Easterly, LLC
Ken Dennard
ksdennard@drg-e.com / 713-529-6600
Augustine Okwu
gokwu@drg-e.com / 404-532-0086
SOURCE Main Street Capital Corporation http://www.mainstcapital.com For full details for MAIN click here.
Email Print Archives Feedback Email Article Link
Close X
Most Popular News
UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
Thursday December 3 12:30 PM
* Attendance is strictly limited and are filled on a first-come, first-served basis.
The TradingMarkets Directory
Stocks
Options
Forex
E-mini/Futures
How to Trade
Tools
PowerRatings
Blogs
Premium Subscription Services
RELATED SITES
Please call 1-213-955-5858 ext. 1
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment. HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. The Connors Group, Inc. © Copyright 2009 The Connors Group, Inc. All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy. © 2009 The Connors Group, Inc.
|
