Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) is pleased to announce that it recently completed a new portfolio investment in Career Team Holdings, LLC (“Career TEAM”) to facilitate the recapitalizations of Career TEAM, LLC and Career Edge, LLC (together, the “Companies”). The Companies are a leading provider of workforce development services and learning and case management software solutions to regional workforce development boards, federally and state-funded work programs, and higher learning institutions across the country. Main Street, along with its co-investor, partnered with Iron Creek Partners, LLC (“Iron Creek”), a sector-focused private investor that Main Street has partnered with on multiple prior investments over the last decade, and the Companies’ existing owner and Chief Executive Officer to facilitate the transaction and provide growth capital, with Main Street funding $24.8 million in a combination of first-lien, senior secured term debt and a minority direct equity investment. In addition, Main Street and its co-investor are providing Career TEAM with a revolving line of credit to support the Companies’ future growth initiatives and working capital needs.
Founded in 1996 and headquartered in North Haven, Connecticut, the Companies are a career consultancy firm and software solution serving the government and education markets. The Companies serve their customers through a fully integrated, in-person and digital career coaching and development platform, providing its constituents (both program participants and students) with the necessary skills, education, and resources to help gain full-time employment.
For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News
