Daily News: August 25, 2014

Main Street Financing Supports Mystic Recapitalization

Main Street Capital announced it recently led a financing totaling $15.9 million of invested capital in Mystic Logistics to support the majority recapitalization of Mystic, with Main Street funding $12.7 million of the financing in this new portfolio investment.

Main Street’s portion of the financing included a $10 million first lien, senior secured term loan and a $2.7 million equity investment. In addition, Main Street and its co-investor in the financing are also providing Mystic an undrawn revolving line of credit to support its future working capital needs. Main Street and its co-investor partnered with the management team of Mystic to facilitate the transaction.

South Glastonbury, CT-headquartered Mystic is a non-asset based third-party logistics provider that specializes in standard mail consolidation for large volume mailers in the U.S.