Main Street Capital Corporation (NYSE: MAIN) has announced its private loan portfolio activity for the fourth quarter of 2024. The company originated new or increased commitments in its private loan portfolio totaling $123.4 million and funded total investments across its private loan portfolio with a cost basis totaling $108.0 million.
Some notable new private loan commitments and investments during the fourth quarter of 2024 include: $42.3 million in a first lien senior secured loan, $8.5 million in a first lien senior secured revolver, and $12.7 million in a first lien senior secured delayed draw loan to a provider of janitorial services for the food distribution and grocery end markets. $31.6 million in a first lien senior secured loan, $5.0 million in a first lien senior secured revolver, $5.0 million in a first lien senior secured delayed draw loan, and $1.4 million in equity to a distributor of maintenance and repair parts for the industrial, manufacturing, and automotive end markets. * An increased commitment of $11.2 million in an incremental first lien senior secured loan to a provider of dietary supplements and other natural solutions focused on gut health.
As of December 31, 2024, Main Street’s private loan portfolio included total investments at cost of approximately $2.0 billion across 91 unique borrowers. The private loan portfolio, as a percentage of cost, included 95.4% invested in first lien debt investments and 4.6% invested in equity investments or other securities.
Main Street Capital Corporation primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. The company's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings, and acquisitions of companies operating in diverse industry sectors. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.
As a result of these announcements, the company's shares have moved -0.9% on the market, and are now trading at a price of $57.66. For more information, read the company's full 8-K submission here.
