Main Street Capital Corporation invests $35 million in the minority recapitalization of two leading commercial concrete subcontractors, aiming to strengthen their market position within the Northeastern United States.

Target Information

Main Street Capital Corporation has announced a new investment of $35.0 million to facilitate the minority recapitalization of two leading commercial concrete subcontractors, which will operate under a single holding company. This funding aims to bolster the existing partnership between the companies' owners and management teams, utilizing a strategic mix of first lien, senior secured term debt, and direct minority equity investment.

These companies, based in the Northeastern United States, offer a wide range of concrete services. Their expertise encompasses earthwork for foundations, footings, stem walls, retaining walls, and both unreinforced and reinforced concrete slabs. Their capabilities extend to the installation of exterior concrete solutions, which include truck aprons, dolly strips, drive-in ramps, and loading docks. These services cater to significant commercial projects such as warehouses, distribution centers, data centers, and cold storage facilities.

Industry Overview

The construction industry, particularly concrete contracting, plays a crucial role in the economic landscape of the Northeastern United States. As urbanization continues to expand and infrastructure demands increase, the requir