Main Street Invests Equity/Debt in Southern RV
Main Street Capital announced it closed a new portfolio investment totaling $16.8 million of invested capital in Southern RV and Southern RV Real Estate. Main Street’s investment in Southern RV consists of $14.6 million in first lien, senior secured term debt, of which $3.3 million is a first lien mortgage loan, and a $2.2 million direct equity investment.
Main Street said it partnered with Southern RV’s founders and management team, who collectively contributed approximately $4.0 million in equity capital, to facilitate the recapitalization and growth financing of Southern RV.
Southern RV is a dealer of new and used recreational vehicles and related services in the Gulf Coast region.