Main Street Announces New Portfolio Investment

Rhea-AI Summary

Main Street (NYSE: MAIN) completed a $27.2 million portfolio investment in The Nearshore Company on Nov 19, 2025 to facilitate TNC's acquisition of the Carmi Companies. The investment combines first-lien, senior secured term debt and a direct minority equity stake. TNC (Brownsville, TX) provides Mexico-based turnkey manufacturing, employer/tenant of record, and U.S. warehousing services; Carmi (Laredo, TX) offers transportation, logistics and customs clearance. The transaction creates an integrated cross-border manufacturing and logistics platform aimed at strengthening supply chain resilience and end-to-end services for U.S. clients.

Positive

• Completed a $27.2M portfolio investment on Nov 19, 2025
• Investment structured as first-lien senior secured term debt
• Direct minority equity stake aligns investor and company interests
• Creates integrated cross-border manufacturing and logistics platform

Negative

• Adds $27.2M of credit exposure via senior secured term debt
• Transaction includes minority equity but no dilution magnitude disclosed
• No quantified revenue or cost synergies disclosed alongside the deal

Invests $27.2 Million in The Nearshore Company to Support Strategic Acquisition

HOUSTON, Nov. 19, 2025 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment totaling $27.2 million in The Nearshore Company ("TNC") to facilitate its acquisition of the Carmi Companies ("Carmi" and, together with TNC, the "Company"). Main Street's investment in the Company included a combination of first-lien, senior secured term debt and a direct minority equity investment.

TNC was founded in 1992 and is headquartered in Brownsville, Texas. TNC provides outsourced services to companies seeking to manufacture in close proximity to the U.S. TNC provides Mexico-based turnkey manufacturing facilities, employer of record services and tenant of record services and U.S.-based warehousing services. TNC provides its services to a wide range of industries, including industrials, healthcare, steel, automotive and utility. Carmi was founded in 1983 and is headquartered in Laredo, Texas. Carmi is a provider of transportation, logistics and customs clearance services to importer and exporter clients. The combination of TNC and Carmi expands the Company's service offering, providing clients with an end-to-end solution for cross border operations. This strategic combination creates a comprehensive platform for cross-border manufacturing and logistics solutions, enabling U.S. companies to strengthen supply chain resilience and operational efficiency.

ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. 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. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.

Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Ryan R. Nelson, CFO, rnelson@mainstcapital.com 
713-350-6000

Dennard Lascar Investor Relations
Ken Dennard | ken@dennardlascar.com  
Zach Vaughan | zvaughan@dennardlascar.com  
713-529-6600

 

View original content:https://www.prnewswire.com/news-releases/main-street-announces-new-portfolio-investment-302619598.html

SOURCE Main Street Capital Corporation

FAQ

What did Main Street (MAIN) announce on Nov 19, 2025?

Main Street announced a $27.2 million investment in The Nearshore Company to support TNC's acquisition of the Carmi Companies.

How was Main Street's $27.2M investment in TNC structured?

The investment combined first-lien, senior secured term debt and a direct minority equity investment.

What services does The Nearshore Company provide after combining with Carmi?

The combined company offers Mexico-based turnkey manufacturing, employer/tenant of record services, U.S. warehousing, transportation, logistics and customs clearance.

How might Main Street's investment affect MAIN shareholders?

The deal increases Main Street's $27.2M portfolio exposure and credit exposure via senior secured term debt; no shareholder dilution percentage was disclosed.

What strategic benefit does the TNC–Carmi combination provide?

It creates an end-to-end cross-border platform intended to strengthen supply chain resilience and operational efficiency for U.S. clients.