Main Street Capital Corporation announced on October 16, 2024, a new portfolio investment totaling $41.4 million. This investment facilitated the minority recapitalization of Connect Telecommunications Solutions Inc., a leading value-added distributor of fiber management solutions to the Canadian telecommunications industry.
Main Street, along with its co-investor, partnered with the company's founders to complete the transaction. Connect, founded in 1999 and headquartered in Kitchener, Ontario, offers a comprehensive range of products including vaults, cabinets, pedestals, and various fiber connectivity solutions.
The investment by Main Street included a combination of first-lien, senior secured term debt and a direct equity investment. This move expands Main Street's presence in the telecommunications infrastructure sector.
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