Main Street Capital Corp. said Wednesday that it invested in AmeriTech College Operations. The $6.8 million consisted of first lien, senior secured debt. Salt Lake City, Utah-based AmeriTech is a college that provides healthcare training programs such as nursing, medical assisting and medical billing.
Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) announced today that it recently closed a new portfolio investment totaling $6.8 million in invested capital in AmeriTech College Operations, LLC (“AmeriTech”). Main Street’s investment in AmeriTech consists of $6.8 million in first lien, senior secured debt. Headquartered near Salt Lake City, Utah, AmeriTech is a private, for-profit college focused on providing healthcare training programs such as nursing, medical assisting, medical billing and coding, surgical technicians, and dental assisting, and serves as one of the largest suppliers of nursing professionals in Utah. With two traditional campuses located in Draper, Utah, and Provo, Utah, and through its online programs, AmeriTech offers associate degrees as well as diplomas and is accredited with the Department of Education and nationally accredited with specialty healthcare education accrediting agencies. Main Street’s investment provides growth financing to expand the school’s healthcare programs and its development of baccalaureate degree programs.
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. Main Street’s lower middle market investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. 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 also maintains a portfolio of privately placed, interest-bearing debt investments in middle market businesses that are generally larger in size than its lower middle market portfolio companies.