Main Street Capital Corporation (Nasdaq: MAIN) announced that it has completed a $3.6 million new portfolio investment in Ceres Management, LLC, dba Lamb's Tire and Automotive Centers.
Main Street's investment in Lamb's included a $2.4 million second lien, secured debt investment and a $1.2 million equity investment, representing a 45% fully diluted equity interest. Lamb's owns and operates fifteen Goodyear tire retail and automotive repair centers in and around Austin, Texas.
Lamb's acts as a branded Goodyear retail tire dealer and offers a full range of auto repair and maintenance services using state-of-the-art computer diagnostic equipment operated by ASE-certified technicians.
According to Tire Business Magazine, Lamb's is the 26th largest independent tire and auto service network in the United States and has been ranked by the Austin Business Journal as one of the top fifty fastest growing private companies in Austin, Texas for five of the past seven years. -- Main Street Capital Corporation
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