Main Street Capital Makes Follow-On Investments in Direct Marketing Solutions and Heritage Vet Partners

Main Street Capital Makes $19.5M Follow-On Investments in Three Portfolio Companies

July 12, 2022

Financial Services

Main Street Capital Corporation invested a total of $19.5 million in three existing portfolio companies — PPL RVs, Centre Technologies and Nebraska Vet AcquireCo (dba Heritage Vet Partners) — via a mix of senior secured term loans and a direct equity investment. The follow-on capital (approximately $8.0M to PPL, $6.3M to Centre and $5.2M to Heritage) is intended to support add-on acquisitions and continued growth initiatives across the portfolio.

Undisclosed Financial Sponsor Completes Majority Recapitalization of Heritage Vet Partners

May 12, 2025

Healthcare Services

Main Street Capital Corporation fully exited its debt investments and partially exited its equity stake in Nebraska Vet AcquireCo, LLC (d/b/a Heritage Vet Partners) after a majority recapitalization led by a new, unnamed financial sponsor. Main Street realized a $55.5 million gain and received a minority equity position in the acquirer; Heritage, headquartered in West Point, Nebraska, is a national provider of rural, mixed- and large-animal veterinary services and products.

Heritage Vet Partners Acquires Muleshoe Veterinary Businesses with $25.9M Follow-On Investment from Main Street Capital

May 14, 2024

Healthcare Services

Main Street Capital Corporation made a $25.9 million first-lien senior secured follow-on loan to Nebraska Vet AcquireCo, LLC (dba Heritage Vet Partners) to support Heritage's acquisition of Muleshoe Animal Clinic, PLLC, Muleshoe Vet Labs, LLC and Muleshoe Vet Supply, LP in Muleshoe, Texas. Heritage, a West Point, Nebraska–headquartered platform focused on rural, mixed and large animal veterinary services, has used Main Street financing to execute an acquisition-driven growth strategy since Main Street's initial minority recapitalization in December 2020.

Main Street Capital Provides Minority Recapitalization to Northeast Nebraska Vet Services and Heritage Animal Health

January 6, 2021

Healthcare Services

Main Street Capital Corporation provided $17.0 million of debt and a minority equity investment to facilitate a minority recapitalization of Northeast Nebraska Vet Services, PC (NVS) and Heritage Animal Health, supporting the companies’ growth and acquisition strategy. Bridgepoint Investment Banking acted as exclusive financial advisor to the companies on the transaction.

Main Street Capital Recapitalizes Midwestern Dental Service Organization

February 20, 2024

Dental

Main Street Capital Corporation invested $12.8 million in a recapitalization of a leading, multi-location urgent and general care dental service organization based in the Midwestern United States. The investment, made as a combination of first-lien senior secured term debt and a direct equity investment, was completed alongside an unnamed co-investor and in partnership with the Company's founder and a private investment group.

Main Street Capital Invests $42.2M to Recapitalize Valley Vet Supply

December 7, 2021

Veterinary

Main Street Capital Corporation led a $42.2 million financing package (first-lien senior secured term debt plus a direct equity investment) to recapitalize Valley Veterinary Clinic, LLC d/b/a Valley Vet Supply. The transaction included a revolving credit facility from Main Street and co-investors to support Valley Vet Supply's growth initiatives and working capital needs.