A Locke Lord team led by Greg Heath and Jeannie Diep (both of Houston) represented Main Street Capital Corporation in a new portfolio investment in SI East, LLC, a newly formed entity formed to facilitate General Steel Drum, LLC's acquisition of North Coast Container Corporation. Main Street, along with a co-investor, partnered with GSD's existing owners to facilitate the transaction. Main Street funded $41.25 million in a combination of first-lien, senior secured term debt and a direct minority equity investment and will also provide SI East an undrawn credit facility to support its future organic and acquisition growth initiatives and working capital needs. For more information, see Main Street’s press release. Additional team members included Tammi Niven, Lauren Doughty, Jerry Higdon, Ed Razim, Buddy Sanders, Michelle Gutierrez-Begin and A.J. Davitt (all of Houston).
Posted on September 19, 2018