Publicly traded investment firm (business development company) providing debt and equity to lower middle market companies
Main Street Capital
- HeadquartersHouston, TX S1
- Websitemainstcapital.com
- Last verifiedOctober 20, 2026
At a glance
| Assets under management | $9B (as of 2026) S5 |
|---|---|
| EBITDA range | $3M to $20M S2 |
| Revenue range | $10M to $150M S2 |
| Check size | $5M to $125M S2 |
| Deal types | Platform, Add-on, Minority, Growth S2 |
| Sectors | Industrial & Manufacturing, Distribution, Construction Services, HVAC, Plumbing & Electrical, Roofing, Healthcare Services, Transportation & Logistics, Consumer & Food, IT Services & MSP |
What Main Street Capital buys
Main Street Capital is a Houston business development company whose shares trade on the New York Stock Exchange. Its lower middle market strategy, which grew out of funds started in the mid-1990s, puts debt and equity together into established private companies, many of them owned by founders or families, with roughly $10 million to $150 million of revenue and $3 million to $20 million of EBITDA. A first investment usually runs from $5 million to $125 million. It wants stable cash flow, a proven market position and an experienced management team, and it works across many industries, from manufacturing and distribution to construction services, healthcare and business services.
Most of its recent new deals are minority recapitalizations: the owner sells less than half the equity and the company borrows from Main Street at the same time. It also does majority recapitalizations, management buyouts and follow-on financing for add-on acquisitions. As a public company it has permanent capital and no fund deadline to sell. Its separate lending to private equity owned companies is not covered here.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Aug 2026 | Midstream Valve Partners$39.3 million of debt and minority equity in a founder-led valve and flow-control distributor in Tomball, Texas | Minority | Distribution | Source |
| Jun 2026 | Centre TechnologiesHouston managed IT services provider sold in a majority recapitalization to a new sponsor; first backed in 2019 and grew through seven add-ons | Exit | IT Services & MSP | Source |
| Apr 2026 | Shift Transit$40.0 million minority recapitalization of a Chicago bikeshare and scooter share maintenance and logistics operator | Minority | Transportation & Logistics | Source |
| Apr 2026 | United Business Mail$15.6 million follow-on to fund UBM's purchase of a palletized mail consolidation, freight brokerage and warehousing provider | Add-on | Transportation & Logistics | Source |
| Apr 2026 | Transformer Maintenance and ServiceUtility equipment maintenance and repair provider bought by Trantech with $26.0 million of follow-on financing | Add-on | Industrial & Manufacturing | Source |
| Mar 2026 | Structural steel fabricator (unnamed)$61.5 million minority recapitalization of a Houston-area fabricator for large construction projects | Minority | Construction Services | Source |
| Mar 2026 | Architecture and engineering firm (unnamed)$28.0 million minority recapitalization of a Southeastern architecture, engineering and land entitlement firm, alongside its owner-operator | Minority | Source | |
| Mar 2026 | Nello Industries, Revolution Flight Group and Gamber-Johnson$21.1 million of follow-on investments to fund acquisitions by three existing portfolio companies | Add-on | Source | |
| Feb 2026 | Johnson & QuinChicago direct marketing business acquired by Direct Marketing Solutions with $25.6 million of follow-on financing | Add-on | Source | |
| Feb 2026 | Baseload$15.3 million of debt and minority equity in a buyout of a healthcare data services provider led by Iron Creek Partners | Investment | Source | |
| Jan 2026 | KBK IndustriesKansas tank manufacturer sold to a strategic buyer, 20 years after Main Street led its 2006 recapitalization | Exit | Industrial & Manufacturing | Source |
| Jan 2026 | Commercial concrete contractors (unnamed)$35.0 million minority recapitalization of two Northeastern concrete subcontractors under one holding company | Minority | Construction Services | Source |
| Jan 2026 | United Business Mail$50.8 million investment to merge UBM with portfolio company Mystic Logistics; Main Street exited Mystic | Minority | Transportation & Logistics | Source |
| Dec 2025 | Commercial roofing contractor (unnamed)Southeastern roofing contractor bought by Chamberlin Roofing & Waterproofing with a $20.0 million follow-on loan | Add-on | Roofing | Source |
| Nov 2025 | The Nearshore Company$27.2 million to fund its acquisition of the Carmi Companies; provides Mexico-based manufacturing facilities and services | Minority | Source | |
| Nov 2025 | Swim school franchisee (unnamed)$47.0 million minority recapitalization of a children's swim instruction franchisee with more than 40 locations in ten states | Minority | Source | |
| Oct 2025 | Musculoskeletal care MSO (unnamed)$81.0 million minority recapitalization of a Southeastern orthopedic and pain management services organization, alongside its founders | Minority | Healthcare Services | Source |
| Sep 2025 | Financial Risk Group$14.0 million minority recapitalization of a risk management advisory and software firm, alongside its founders | Minority | Accounting & Professional Services | Source |
| Sep 2025 | Specialty aircraft distributor (unnamed)$45.0 million minority recapitalization alongside the company's sole owner and chief executive | Minority | Distribution | Source |
| Jun 2025 | Aerial survey and geospatial services provider (unnamed)$45.4 million minority recapitalization plus growth capital for more aircraft, sensors and acquisitions | Minority | Source | |
| May 2025 | Doral Corporation$42.5 million minority recapitalization of a Milwaukee rigging, millwrighting and machinery moving contractor | Minority | Construction Services | Source |
| May 2025 | Heritage Vet PartnersDebt repaid and part of the equity sold in a majority recapitalization with a new sponsor | Exit | Veterinary | Source |
| Apr 2025 | Milford Vascular Institute$12.5 million minority recapitalization of a Connecticut vascular care practice management organization, alongside its founders | Minority | Healthcare Services | Source |
| Mar 2025 | Moffitt Services$49.3 million minority recapitalization of a bulk fuel and lubricant distributor, alongside its founders | Minority | Distribution | Source |
| Jan 2025 | Pearl Meyer & PartnersExecutive compensation consulting firm sold in a majority recapitalization with a new sponsor | Exit | Accounting & Professional Services | Source |
Portfolio by sector
From the firm's portfolio page S6.
Business Services
- Career TEAM
- Financial Risk Group
- Revolution Flight Group
- Shift Transit
- United Business Mail
- Verified Credentials
- World Micro
Commercial & Professional Services
- CenterPeak
- IG Holdings
Communication Services
- Affiliati
- Blackhawk Datacom
- Direct Marketing Solutions
Consumer Discretionary
- CBT Nuggets
- California Splendor
- Cody Pools
- DMA Industries
- Elgin Industries
- Flame King
- Grand Flower Growers
- Jensen Jewelers
- New York Pizza Department
- PPL RVs
- Robbins Brothers
- Tedder Industries
- Televerde
Consumer Staples
- Bolder Panther Group
- Infinity X1
Energy
- Charps
- Gulf Energy Information
- Houston Plating & Coatings
- Moffitt Services
- TruHorizon Environmental Solutions
Healthcare
- Baseload
- Garreco
- Jorgensen Laboratories
- Milford Vascular Institute
- NuStep
- Urgent Care Dental
- Valley Vet Supply
Industrials
- Batjer & Associates
- Boccella Precast
- Brewer Crane
- Chamberlin Roofing & Waterproofing
- Colonial Electric Company
- Compass Systems
- Doral Corporation
- GMI Group
- GRT Rubber Technologies
- Harrison Hydra-Gen
- MetalForming
- Midstream Valve Partners
- NAPCO Precast
- NRP Jones
- NexRev LLC
- OMi
- Oneliance
- Orttech
- Pinnacle Plastics
- Superior Rigging & Erecting
- Victory Energy Operations
Information Technology
- CompareNetworks
- Connect Telecommunications Solutions
- Cybermedia Technologies
- Gamber-Johnson
- Hawk Ridge Systems
- KECO Analytical Systems
- MoneyThumb
- OnAsset Intelligence
- SlickText
- Volusion
Manufacturing
- Kickhaefer Manufacturing Company
- Nello Industries
- SI East
- The Nearshore Company
- Trantech
Materials
- Clad-Rex Steel
Past investments: KBK Industries, Mystic Logistics
Greymont’s take
How Main Street Capital fits a seller
Main Street fits an owner who wants to take real money off the table without giving up control. In its minority recapitalizations the owner sells a stake of under half, Main Street provides a term loan and minority equity in one package, and the owner keeps running the company. Its own materials say owners in this structure can later buy back the equity and regain full ownership. It also backs management buyouts and family succession plans, and as a permanent capital vehicle it has no fund clock that forces a sale.
The trade-off is debt. Much of the cash an owner receives is funded by a loan to the company, so ask how much leverage the business will carry, what the interest rate and repayment terms are, and what rights Main Street's stake carries on budgets, add-on deals and a future sale.
Questions owners ask
Is Main Street Capital a private equity firm?
It is a publicly traded business development company that positions itself as an alternative to private equity. In the lower middle market it combines long-term loans, often with little or no scheduled principal payments, with majority or minority equity stakes.
What size company does Main Street invest in?
Its lower middle market criteria are companies with $10 million to $150 million of revenue and $3 million to $20 million of EBITDA, with a first investment of $5 million to $125 million. It also looks for stable cash flow and a seasoned management team.
Can I sell part of my company to Main Street and keep control?
Yes. Its minority recapitalization buys 1 to 49 percent of a company, usually paired with debt, so the owner gets cash while keeping ownership and operating control. Most of the new investments it announced in 2025 and 2026 were minority recapitalizations.
Does Main Street invest in IT services companies?
Yes. It holds Cybermedia Technologies, a federal government IT modernization contractor it recapitalized in 2023, and in June 2026 it exited Centre Technologies, a Houston managed IT services provider it first backed in 2019 and helped make seven acquisitions.
Sources
- S1Main Street Capital home page Accessed October 20, 2026
- S2Main Street Capital: Lower Middle Market Solutions (criteria and structures) Accessed October 20, 2026
- S3Main Street Capital: Who We Invest In Accessed October 20, 2026
- S4Main Street Capital: Minority Recapitalization Accessed October 20, 2026
- S5Main Street Capital: Company History (capital under management timeline) Accessed October 20, 2026
- S6Main Street Capital: Lower Middle Market Current Portfolio Companies Accessed October 20, 2026
- S7Main Street Capital press releases Accessed October 20, 2026
- S8Main Street Capital: Why Businesses Partner With Us Accessed October 20, 2026
- S9Main Street Announces Exit of Portfolio Investment: Centre Technologies (June 24, 2026) Accessed October 20, 2026
- S10Main Street Capital portfolio profile: Cybermedia Technologies Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Main Street Capital. Figures are as reported on the dates shown and may have changed. Request a correction