Main Street Capital Corporation recently led a financing totaling $17.0 million of invested capital in Guerdon Enterprises, LLC ("Guerdon"), to support the majority recapitalization of Guerdon, with Main Street funding $13.6 million of the financing in this new portfolio investment. Main Street's portion of the financing included an $11.2 million first lien, senior secured term loan and a $2.4 million equity investment. In addition, Main Street and its co-investor in the financing are also providing Guerdon an undrawn revolving line of credit to support its future working capital needs. Main Street and its co-investor partnered with Riverlake Partners, LLC, a private equity firm based in Portland, Oregon, and Guerdon's founder to facilitate the transaction.
Headquartered in Boise, Idaho, and founded in 2001, Guerdon is a leading systems-built, off site producer of large modular commercial and multi-family construction projects in the Western United States and Canada. Guerdon's portfolio consists of large apartment, condominium, hotel, office, and workforce housing buildings in varying geographies, climates and working conditions.
Main Street is a principal investment firm that 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.