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Chevron Was The Most Shorted U.S. Stock In April Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, May 14, 2024
Main Street in Plus Column on Follow-On
investment Main Street Capital Corporation (NYSE: MAIN) shares advanced first thing, on news that it recently completed a follow-on investment totaling $25.9 million in Nebraska Vet AcquireCo, LLC, dba Heritage Vet Partners, P.C. Main Street completed the follow-on investment in Heritage to support the Company's acquisition of Muleshoe Animal Clinic, PLLC, Muleshoe Vet Labs, LLC and Muleshoe Vet Supply, LP (a mixed animal practice in Muleshoe, Texas that provides veterinary services, products and supplies, as part of Heritage's ongoing acquisition growth strategy. The follow-on investment consists of an additional first lien, senior secured term loan totaling $25.9 million and represents Main Street's ninth follow-on investment in Heritage.
Founded in 1985 and headquartered in West Point, Nebraska, Heritage is the leading national provider of rural, mixed and large animal veterinary services and products to livestock producers and companion animal owners throughout the United States. Main Street originally invested in Heritage in December 2020 in partnership with Heritage's existing owners and senior management team to facilitate a minority recapitalization of the Company and provide growth capital to help facilitate the Company's acquisition growth strategy in the rural, mixed and large animal veterinary space. Since Main Street's initial investment in Heritage, the Company has now completed fourteen acquisitions, significantly enhancing the platform and expanding its presence across the United States.
Main Street 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 shares moved forward 58 cents, or 1.2%, to $49.57.
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