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HOUSTON, April 6, 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 Colonial Electric Company, LLC ("Colonial" or the "Company"), a leading provider of electrical contracting services in the mid-Atlantic region of the United States. Main Street, along with its co-investor, partnered with the Company's existing owners and senior management team to facilitate the transaction, with Main Street funding $32.9 million in a combination of first-lien, senior secured term debt and a direct equity investment. Main Street and its co-investor are also providing Colonial with a revolving line of credit to support the Company's working capital needs.

Founded in 1970 and headquartered in Harwood, Maryland, Colonial is a third generation, family-owned electrical contracting services provider, focused on multi-family housing in Maryland, Northern Virginia and Washington, D.C.

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