Main Street Capital Corporation has announced that it recently completed a follow-on investment in its existing portfolio company, Trantech Radiator Topco, LLC, an industry leading domestic designer, manufacturer and supplier of branded radiators and cooling systems for transformers used in the generation, transmission and distribution of electric power. Main Street, along with its co-investor MSC Income Fund, Inc., made the follow-on investment in Trantech to support the Company's strategic acquisition of Transformer Maintenance and Service, Inc., which is a provider of utility equipment maintenance and repair services for original equipment manufacturers and utility customers. Main Street and MSIF provided a portion of the financing necessary to facilitate the acquisition, with the owners of TMS receiving a portion of the acquisition purchase price in equity ownership in Trantech. Main Street's portion of the investment consisted of an additional $24.7 million first lien, senior secured term debt investment and a $1.4 million direct equity investment. Main Street and MSIF initially invested in Trantech in May 2019.

Founded in 1932, and headquartered in Edgefield, South Carolina, Trantech's American made products are sold to transformer OEM and aftermarket customers for repair and replacement applications. Founded in 1978, TMS is a family-owned business with long history of providing services that are highly complementary to Trantech's products. The acquisition of TMS enhances Trantech's field service, repairs and refurbishment capabilities and strengthens the Company's ability to support the increasing demands across the electric utility market.

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