HOUSTON, Aug. 4, 2021 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the majority recapitalization of Orttech, Inc. ("Orttech" or the "Company"), a leading value-added distributor of clutches, brakes and related torque control products and components for mission-critical industrial drives across a broad array of industries. Main Street, along with its co-investor, partnered with the Company's existing owners and management team to facilitate the transaction, with Main Street's investment including a combination of first-lien, senior secured term debt and a direct equity investment.
Founded in 1977 and headquartered in Solon, Ohio, Orttech (www.orttech.com) is the exclusive distributor of Ortlinghaus torque control products in the United States, Canada, and Mexico. Serving a diverse global customer base across the metal forming, marine, winch, and agriculture industries, Ortlinghaus is a leading designer and manufacturer of premium clutches, brakes, and plates for drive applications. Combined with Ortlinghaus' industry-leading product quality, Orttech's value-added engineering capabilities provide turnkey solutions to the Company's longstanding customer base across North America.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) 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. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.
Main Street, through its wholly owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.
SOURCE Main Street Capital Corporation