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Main Street Announces New Portfolio Investment

September 02, 2020, 08:40 AM
Filed Under: Industry News

Main Street Capital Corporation announced that it recently completed a new portfolio investment to facilitate the minority recapitalization of Superior Rigging & Erecting Co., a leading provider of rigging, steel erection and crane & equipment rental services throughout the southeastern United States.  Main Street partnered with the Company's management team to facilitate the transaction, with Main Street funding $26.0 million in a combination of first-lien, senior secured term debt and a direct equity investment.  In addition, Main Street is providing Superior with access to additional term debt to facilitate its future growth needs.

Founded in 1952, and headquartered in Atlanta, Georgia, Superior ( provides rigging, steel erection and crane & equipment rental services to customers across the southeastern United States.  The Company offers crane, forklift, tractor trailer and accessory equipment rental in addition to a variety of services, including structural steel erection, specialized rigging, millwrighting, turnkey plant services, heavy transport and warehousing.  Superior maintains one of the largest fleets of cranes, forklifts and other peripheral equipment for contract or rental and partners with some of the most well-respected general contractors in its markets.

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