Investment firm Main Street Capital Corp. (NYSE: MAIN) has partnered with Chicago private equity firm Riker Capital to facilitate a recapitalization of Garreco LLC, a maker of products used in the dental industry.
The transaction includes a $7 million investment from Houston-based Main Street. The firm provided $5.8 million in first lien, senior secured term debt as well as $1.2 million in direct equity.
Garreco, based in Heber Springs, Ark., manufactures and supplies various products used for dentures, crowns and bridges.
Main Street cuts deals that are primarily in the lower middle market with companies that typically have annual revenues between $10 million and $150 million.
For more lower middle market coverage, see the June 2013 cover story “Small Deal Sweet Spot.” http://www.themiddlemarket.com/maj/2011_57/small-deal-sweet-spot-240291-1.html