Main Street Capital Corporation announced on October 8, 2024, the completion of a new portfolio investment totaling $74.4 million. This investment facilitated a majority recapitalization of Victory Energy Operations, a leading designer and manufacturer of industrial and commercial combustion, heat-transfer, and steam production solutions.
Main Street partnered with Victory's founder and management team, along with a co-investor, to facilitate the recapitalization and buyout an institutional investor. Victory Energy Operations, founded in 1999 and headquartered in Collinsville, Oklahoma, serves diverse industries globally.
Main Street's investment included a combination of first-lien, senior secured term debt and a direct equity investment. This strategic investment expands Main Street's portfolio in the industrial sector and supports the growth of a vertically integrated manufacturer.
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