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Main Street Capital Invests $20M to Help Roofing Leader Chamberlin Expand to the Southeast

Benzinga Newsdesk 11 months ago

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Main Street Capital Corporation (NYSE:MAIN) ("Main Street") is pleased to announce that it recently completed a follow-on investment in its existing portfolio company, Chamberlin Holding LLC ("Chamberlin" or the

Main Street Capital Corporation (NYSE:MAIN) ("Main Street") is pleased to announce that it recently completed a follow-on investment in its existing portfolio company, Chamberlin Holding LLC ("Chamberlin" or the "Company"), an industry leading specialty roofing and waterproofing contractor. Main Street, along with its co-investor MSC Income Fund, Inc. (NYSE:MSIF) ("MSIF"), made the follow-on investment in Chamberlin to support the Company's strategic acquisition of a commercial roofing contractor in the Southeastern United States. Main Street and MSIF facilitated the transaction, with Main Street's portion of the investment consisting of an additional $20.0 million first lien, senior secured term debt investment. Main Street and MSIF initially invested in Chamberlin in February 2018.

Founded in 1897, and headquartered in Houston, Texas, Chamberlin is a market leading commercial specialty contractor with a focus on installing high quality roofing and waterproofing systems, as well as providing roof maintenance and leak repair services throughout the Southwest region of the United States, with a focus in Texas. Chamberlin provides its services to a variety of end markets, including office, educational, healthcare, manufacturing, data centers, multi-family, governmental, religious, retail, aviation, parking garages and hospitality / entertainment venues. Outside of the Company's Houston headquarters, Chamberlin has offices in Dallas, Austin, San Antonio, Fort Worth and the Rio Grande Valley. The acquisition expands the Company's footprint into the Southeastern region of the United States.

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