Main Street backs Flame King

Based in Pico Rivera, California, Flame King is a provider of propane storage solutions and accessories.

Main Street has invested $31.6 million in Flame King. Based in Pico Rivera, California, Flame King is a provider of propane storage solutions and accessories.

PRESS RELEASE

Invests $31.6 Million in YSN Imports, LLC d/b/a Flame King

HOUSTON, Nov. 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 recapitalization of YSN Imports, LLC d/b/a Flame King (“Flame King” or the “Company”), a leading supplier of propane storage solutions and accessories. Main Street, along with its co-investor, partnered with the Company’s existing owners and management team to facilitate the transaction and provide growth capital, with Main Street funding $31.6 million in a combination of first-lien, senior secured term debt and a direct equity investment. Main Street and its co-investor also provided Flame King with a revolving line of credit to support the Company’s future growth initiatives and working capital needs.

Founded in 1998 and headquartered in Pico Rivera, California, Flame King (www.flameking.com) is a leading supplier of propane storage solutions and accessories. The Company sells its products to recreational consumers indirectly through retailers, propane tank exchangers, RV OEMs and directly to consumers through eCommerce platforms. The Company also supplies commercial and industrial customers and offers a complete line of steel propane cylinders including refrigerant, buffer, and forklift cylinders available in various sizes ranging from 1 lb. to 420 lbs. for recreational, commercial, industrial, and home applications.

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.