Main Street Invests in New Portfolio Company
Main Street announced that it recently closed a new portfolio investment totaling $8.9 million of invested capital in Hydro Ex Acquisition, the parent company of Texas ReExcavation (T-Rex). Main Street’s investment consists of $6 million in second lien, secured term debt and a $2.9 million direct equity investment.
Founded in 2001, T-Rex is headquartered in Houston, TX and provides hydro excavation and vacuum excavation services for a variety of industry sectors, including the petrochemical, pipeline, municipal, utilities, construction, oil & gas, engineering, transportation, telecommunication and environmental industries. Main Street partnered with third party investors and certain members of T-Rex’s management team to support the acquisition of T-Rex.
Main Street is an investment firm that provides long-term debt and equity capital to lower middle-market companies and debt capital to middle-market companies.