Main Street Capital Provides $34.3MM in Financing to Elgin Industries

Main Street Capital completed a new portfolio investment to facilitate the recapitalization of Elgin Industries, a fully integrated supplier of engine and chassis components to original equipment manufacturers and the aftermarket. Main Street, along with its co-investors, partnered with the company’s existing owners and management team to facilitate the transaction, with Main Street funding $34.3 million in a combination of first lien, senior secured term debt and a direct equity investment. Main Street and one of its co-investors also provided Elgin with a revolving line of credit to support the company’s future growth initiatives and working capital needs.