Main Street completes $6.5 million new portfolio investment

Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that it has completed a new portfolio investment totaling $6.5 million.

Main Street's investment in SYNEO, LLC ("SYNEO" or the "Company") facilitated the merger of Technical Innovations, LLC ("TI"), an existing Main Street portfolio company, and ASG Medical Systems, LLC ("ASG"). The SYNEO investment consists of $5.5 million in first lien secured debt and a $1.0 million direct equity investment. TI designs and manufactures manual, semi-automated, pneumatic and computer numerically controlled (CNC) machines and tools used by medical device manufacturers to place holes in catheters and for tissue cutting applications. TI's product mix includes razor sharp drills, punches and related machines. Main Street made its initial investment in TI during 2002. ASG is a leader in the automation of catheter and guidewire manufacturing. ASG's tubing and guidewire cutters, feeders, testers and custom automation machines provide high production capacity and consistent outgoing quality while reducing manufacturing costs. The Company believes that the combination of TI and ASG will allow the two companies to better serve their customers through a broadened service capability and product offering. The current management of TI and ASG will continue in their current operating roles and serve in senior executive roles with SYNEO, and will also collectively retain a majority equity interest in SYNEO as part of the transaction.

SOURCE Main Street Capital Corporation