Main Street Capital Provides $15.1M to Recapitalize Batjer (Batjer & Associates / Batjer Service)
March 15, 2022
Main Street Capital Corporation provided $15.1 million in a combination of first lien term debt and a direct equity investment to facilitate the majority recapitalization of Batjer & Associates, LLC and Batjer Service, LLC, a West Texas mechanical HVAC and plumbing contractor headquartered in Abilene, Texas. The financing, done alongside an unnamed co-investor, also includes a revolving credit facility and delayed draw term loan to support working capital and future growth initiatives while partnering with the company's existing owners and senior management.
- Buyers
- Main Street Capital Corporation, Unnamed co-investor
- Targets
- Batjer & Associates, LLC and Batjer Service, LLC
- Sellers
- Company's existing owners and senior management team
- Industry
- HVAC & Mechanical
- Location
- Texas, United States
- Transaction Type
- Recapitalization
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