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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