Main Street (MAIN) Completes Investment in Merrick Systems
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Main Street Capital Corporation (NYSE: MAIN) has fully exited its debt and equity investment in Merrick Systems, Inc.
Main Street completed the exit of its debt and equity interest in Merrick as part of a majority equity investment in Merrick by HitecVision, a Norwegian-based private equity investor focused on the international oil and gas industry. Main Street made its investment in Merrick, which consisted of a first lien, secured debt investment with equity warrant participation, during May 2010 to support the Company's various growth initiatives. Main Street realized a total internal rate of return of 41% on its investment in the Company.
Main Street completed the exit of its debt and equity interest in Merrick as part of a majority equity investment in Merrick by HitecVision, a Norwegian-based private equity investor focused on the international oil and gas industry. Main Street made its investment in Merrick, which consisted of a first lien, secured debt investment with equity warrant participation, during May 2010 to support the Company's various growth initiatives. Main Street realized a total internal rate of return of 41% on its investment in the Company.
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