Investors capitalize Big Apple-centered Boccella Precast

Sources: Main Street Capital Corp., Houston; CP staff

Main Street Capital has announced an $18.6 million outlay combining first-lien, senior secured term debt and direct equity investment in Berlin, N.J.-based Boccella Precast LLC, a structural concrete products operator serving metropolitan New York, Northeast and Mid-Atlantic markets. The firm partnered with Ashland Capital Partners, Chicago, and Boccella management on the transaction.

The investors are also providing an undrawn credit facility to support the precast/prestressed producer’s working capital needs. A New York Stock Exchange-traded principal investment firm, Main Street Capital focuses on providing long-term debt and equipment capital to lower middle market companies ($10 million–$150 million annual sales).