HOUSTON, Dec. 20, 2022 /PRNewswire/ — Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) is pleased to announce that it recently completed a new portfolio investment to facilitate the minority recapitalization of World Micro Components, LLC (“World Micro” or the “Company”), a distributor of electronic parts and components serving a variety of end markets, including aerospace and defense, healthcare, technology and industrial automation. Main Street, along with its co-investor, partnered with the Company’s existing owner and senior management team to facilitate the transaction, with Main Street funding $18.1 million in a combination of first lien, senior secured term debt and a direct minority equity investment.
Founded in 1994 and headquartered in Roswell, Georgia, World Micro (https://www.worldmicro.com/) offers a broad range of supply chain management solutions to its customers, including global sourcing, bill of material analysis, vendor consolidation, kitting services and cost reduction analysis. Over its 28-year history, the Company has built longstanding relationships with original equipment manufacturers, or OEMs, and contract manufacturers and has embedded itself as an integral part of each customers’ supply chain. World Micro sources its parts and components from a global network of over 1,000 vendors, enabling it to source difficult-to-find components in an efficient and cost-effective manner.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one stop” financing alternatives within its lower middle market investment strategy. Main Street’s lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street’s middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.
Main Street, through its wholly owned portfolio company MSC Adviser I, LLC (“MSC Adviser”), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.