Main Street Capital Corp. has completed a new portfolio investment to facilitate the recapitalization of Elgin Industries Inc., a supplier of engine and chassis components to original equipment manufacturers and the aftermarket.
Elgin Industries, headquartered in Elgin, Ill., is a supplier of engine and chassis components to global engine, equipment and vehicle manufacturers. The company also offers a range of replacement components and kits for aftermarket customers worldwide. Main Street funded $34.3 million in a combination of first lien, senior secured term debt and a direct equity investment. Main Street and one of its co-investors also provided Elgin with a revolving line of credit to support the company’s growth initiatives and working capital needs.