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Main Street Capital Invests Additional $26M In Trantech Radiator Topco To Support Strategic Acquisition
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Main Street Capital Corporation (NYSE:MAIN) ("Main Street") is pleased to announce that it recently completed a follow-on investment in its existing portfolio company, Trantech Radiator Topco, LLC ("Trantech" or the "Company"), an industry leading domestic designer, manufacturer and supplier of branded radiators and cooling systems for transformers used in the generation, transmission and distribution of electric power. Main Street, along with its co-investor MSC Income Fund, Inc. (NYSE:MSIF) ("MSIF"), made the follow-on investment in Trantech to support the Company's strategic acquisition of Transformer Maintenance and Service, Inc. ("TMS"), which is a provider of utility equipment maintenance and repair services for original equipment manufacturers (OEM) and utility customers. Main Street and MSIF provided a portion of the financing necessary to facilitate the acquisition, with the owners of TMS receiving a portion of the acquisition purchase price in equity ownership in Trantech. Main Street's portion of the investment consisted of an additional $24.7 million first lien, senior secured term debt investment and a $1.4 million direct equity investment. Main Street and MSIF initially invested in Trantech in May 2019.

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