Main Street Capital Corporation recently closed a new portfolio investment totaling $24 million of invested capital in Impact Telecom, Inc. Main Street's investment consists of $22.5 million in senior, secured term debt with equity warrant participation and $1.5 million funded on a $7.0 million revolving credit facility. The proceeds of Main Street's investment supported Impact's acquisition of Matrix Telecom and AmericaTel Corporation (collectively, the Targets) and provided additional working capital to the combined companies.
Founded in 2005, Impact is headquartered in Denver, Colorado and is a leading provider of commercial telecommunications services by delivering flexible and effective solutions to the marketplace. Headquartered in Dallas, Texas, the Targets engage in complementary commercial telecommunications activities and operate a leading retail telecommunications business. The combined companies service over one million customers throughout the United States and internationally. In addition, the acquisition expands Impact's footprint in the commercial market, provides Impact access to a wide range of retail segments and greatly expands the product portfolio of the combined companies.
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.