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Main Street partnered with the Company's management team to streamline the transaction, with Main Street financing $26.0 million in a combination of first-lien, senior secured term debt, and a direct equity investment.
FREMONT, CA: Main Street Capital Corporation declared that it recently completed a new portfolio investment to facilitate the minority recapitalization of Superior Rigging & Erecting Co. ("Superior" or the "Company"), 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 streamline the transaction, with Main Street financing $26.0 million in a combination of first-lien, senior secured term debt, and a direct equity investment. Additionally, Main Street is offering Superior access to additional term debt to facilitate its future growth needs.
Established in 1952 and headquartered in Atlanta, Georgia, Superior gives rigging, steel erection, and crane & equipment rental services to customers across the southeastern United States. The Company offers forklift, crane, tractor-trailer, and accessory equipment rental in addition to a variety of services, including structural steel erection, specialized rigging, turnkey plant services, heavy transport, millwrighting, and warehousing. Superior maintains one of the largest fleets of forklifts, cranes, and other peripheral equipment for contract or rental and collaborates with some of the most well respected general contractors in its markets.
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