Attached files
| file | filename |
|---|---|
| 8-K - 8-K - MSC INCOME FUND, INC. | hms8kmysticpr82014.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE | For More Information, Contact: | |
George Lancaster George.Lancaster@Hines.com 713-966-7676 | ||
HMS Income Fund Makes Mystic Logistics Investment
Co-investment with Main Street Capital Corporation Illustrates Company’s Plan
HOUSTON - August 21, 2014 - HMS Income Fund (“HMS”), a non-listed business development company sponsored by Hines Interests Limited Partnership (“Hines”), today announced the closing of an investment in Mystic Logistics, Inc. (“Mystic”). The HMS investment is part of a $15.9 million financing led by Main Street Capital Corporation (NYSE: MAIN) (“Main Street”), parent company of the sub-adviser to HMS. The investment in Mystic includes first-lien, senior secured term debt and a direct equity investment. HMS invested approximately $3.2 million of the financing, which includes a direct equity investment of approximately $0.7 million. The investment in Mystic supported a majority recapitalization of the company. In addition to the financing discussed above, HMS and Main Street are also providing Mystic an undrawn revolving line of credit to support its future working capital needs. The co-investors partnered with the management team of Mystic to facilitate the transaction.
Mystic, founded in 1989, is headquartered in South Glastonbury, Connecticut, and is a leading non-asset based third-party logistics provider that specializes in standard mail consolidation for large volume mailers in the United States. Mystic's value proposition is centered around taking advantage of economies of scale, optimal purchasing power, reduced transit times, and considerable discounts offered by the U.S. Postal Service for assisting in efficiently achieving the "last mile" of delivery service.
About HMS Income Fund
HMS Income Fund is a publicly registered, non-listed business development company sponsored by Hines, an international investment management firm. The primary investment objective of HMS Income Fund is to generate current income through debt and equity investments in private middle market and lower-middle market U.S. companies. Its secondary objective is to generate long-term capital appreciation through such investments. HMS Income Fund is managed by HMS Adviser LP and is sub-advised by a wholly owned subsidiary of Main Street Capital Corporation (NYSE: MAIN), a publicly traded business development company. To learn more, please visit www.hinessecurities.com.
About Hines
Hines is a fully integrated real estate investment and management firm that has been investing in real estate and providing acquisition, development, financing, property management, leasing and disposition services for more than 57 years. With offices in 73 cities across the United States and 18 international countries, and controlled assets valued at approximately $28.2 billion as of December 31, 2013, Hines is one of the largest real estate organizations in the world. Access www.hines.com for more information on Hines.
About Main Street Capital Corporation
Main Street (www.mainstcapital.com) is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street’s portfolio investments are typically made
to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one stop” financing alternatives within its lower middle market portfolio. Main Street’s lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street’s middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.
Main Street’s common stock trades on the New York Stock Exchange (“NYSE”) under the symbol “MAIN.” In addition, Main Street has outstanding 6.125% Notes due 2023, which trade on the NYSE under the symbol “MSCA.”
For more information, please read the prospectus, which you can obtain by visiting www.hinessecurities.com or calling Hines Securities, Inc. at 888.446.3773. You should read the prospectus carefully in order to fully understand the objectives, risks, sales charges, fees and expenses of HMS Income Fund before investing or sending money. No offering is made in the State of New York except by a prospectus filed with the Department of Law of the State of New York. A copy of the prospectus must be made available to you in connection with any offering. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any other state securities regulator has approved or disapproved of this offering or determined if the prospectus is truthful and complete. Any representation to the contrary is a criminal offense.