Main Street Capital Provides $32.9M to Recapitalize Colonial Electric Company

April 6, 2021

Main Street Capital Corporation invested $32.9 million in a recapitalization of Colonial Electric Company, LLC, providing a mix of first-lien senior secured term debt and a direct equity investment plus a revolving credit facility. Main Street and an unnamed co-investor partnered with Colonial's existing owners and senior management to complete the transaction and support the company’s working capital needs.

Buyers
Main Street Capital Corporation, Unnamed co-investor
Targets
Colonial Electric Company, LLC
Sellers
Company's existing owners and senior management team
Industry
Construction
Location
Maryland, United States
Transaction Type
Recapitalization

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