Main Street Capital completed a new portfolio investment in Cody Pools, a designer and builder of swimming pools and spas for residential and commercial customers in the United States. Main Street Capital, along with its co-investors, partnered with the company’s senior management team to facilitate the transaction, with Main Street Capital funding $24.4 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street Capital and one of its co-investors are providing Cody with a credit facility to support its future growth initiatives and working capital needs.
Cody Pools, founded in 1994, has built more than 12,000 pools throughout its history and has expanded its Austin, TX-based operations to include San Antonio, Houston and Tampa, FL.
Main Street Capital is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.
