Daily News: June 9, 2014

HMS Income Fund Announces New Lower Mid-Market Investment

HMS Income Fund, a non-listed business development company sponsored by Hines Interests Limited Partnership, announced a lower middle market investment in Datacom.

The HMS investment is part of a $19.2 million investment led by Main Street Capital, the parent company of the sub-adviser to HMS. The investment in Datacom includes first-lien, senior secured term debt and a direct equity investment. HMS invested approximately $1.9 million of the total, a portion of which represents a direct equity investment.

Proceeds of the investment were used to complete a minority recapitalization, refinance existing debt and provide capital to fund Datacom’s near-term growth opportunities. In addition, HMS and Main Street are providing Datacom an undrawn revolving line of credit to support its future working capital needs and a commitment for additional term loans to support its future growth opportunities. The investment was completed in partnership with Datacom’s management team, which retained majority equity ownership of Datacom, as the company enters into its next phase of growth.

Headquartered in Lafayette, LA and founded in 2002, Datacom is a leading Gulf Coast region provider of communication and data transfer technology solutions primarily to the oil & gas exploration and production and marine industries.

HMS Income Fund is a publicly registered, non-listed business development company sponsored by Hines, an international investment management firm.

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.