Main Street Capital (MAIN) Announces Follow-On Investment
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Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a follow-on investment in an existing portfolio company. Main Street, along with its co-investor, made the follow-on investment in Gamber-Johnson, LLC ("Gamber-Johnson" or the "Company") to support the Company's acquisition of Lind Electronic Design Company, Inc. ("Lind"). Headquartered in Minnetonka, Minnesota, Lind is a manufacturer and supplier of rugged mobile power solutions to the public safety, U.S. Military and warehousing industries. Lind's product offering includes rugged mobile power adapters, battery chargers, USB adapters, shutdown timers and cabling. Main Street, along with its co-investor, facilitated the transaction, with Main Street's follow-on investment consisting of an additional $40.0 million first lien, senior secured term debt investment. This follow-on investment represents Main Street's fifth follow-on investment in the Company after initially partnering with the Company's management team to acquire the Company in June 2016.
Founded in 1954 and headquartered in Stevens Point, Wisconsin, Gamber-Johnson is a leading worldwide supplier of rugged mounting solutions and cases that safely secure and protect mobile communication systems, computers and other electronic equipment in fleet and public safety vehicles, forklifts, semi-trucks and professional audiovisual applications. Gamber-Johnson's products are used by law enforcement, enterprise, military and warehouse fleets around the globe and are known for being rugged, reliable and responsive.
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