MSC Income Fund, Inc. (MSIF) completed a $20 million first‑lien, senior secured term debt investment in Chamberlin Holding LLC, a Houston‑based specialty roofing and waterproofing contractor founded in 1897. The new capital will back Chamberlin’s planned acquisition of a commercial roofing contractor operating in the southeastern United States, expanding the company’s geographic footprint beyond its Southwest base.
The financing is part of an ongoing partnership between Main Street Capital Corporation and MSIF, which originally invested in Chamberlin in February 2018. By adding debt capacity, MSIF is enabling Chamberlin to strengthen its balance sheet and pursue growth through acquisition, a strategy that has been central to Chamberlin’s expansion plans for several years.
Chamberlin’s acquisition target is a commercial roofing contractor that adds roughly 30 % of Chamberlin’s current revenue and extends its service reach into the southeastern U.S. The deal is expected to generate synergies through shared supply chains, cross‑selling of waterproofing services, and increased market share in a region where demand for commercial roofing is rising.
MSIF, managed by a subsidiary of Main Street Capital, focuses on private‑loan investments in lower‑middle‑market companies. The $20 million follow‑on represents a significant portion of its current portfolio and underscores its strategy of providing growth capital to portfolio companies that pursue acquisitions.
The transaction reflects Chamberlin’s long‑term growth strategy and MSIF’s confidence in the company’s management and market position. The secured debt structure gives MSIF first‑lien priority, aligning its interests with Chamberlin’s success and providing a stable return for the fund’s investors.
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