Boston, MA - August 22, 2014 - BDO Capital Advisors, LLC is pleased to announce that Main Street Capital Corporation (NYSE:MAIN) (“Main Street”) has invested in Mystic Logistics, Inc. (“Mystic”). As the exclusive financial advisor to Mystic, BDO Capital prepared a confidential offering memorandum, identified and contacted a targeted group of potential investors and assisted management in structuring and negotiating 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. “We look forward to continuing the success of Mystic with the support of our new equity partner and are pleased to have the additional financial flexibility to execute on our current strategy and future growth plans,” said Charlene Dufresne, CEO of Mystic.
Main Street 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 led the financing totaling $15.9 million of invested capital in Mystic to support the majority recapitalization of Mystic, with Main Street funding $12.7 million of the financing in this new portfolio investment. Main Street’s portion of the financing included a $10.0 million first lien, senior secured term loan and a $2.7 million equity investment. In addition, Main Street and its co-investor in the financing are also providing Mystic an undrawn revolving line of credit to support its future working capital needs.
ABOUT BDO CAPITAL ADVISORS, LLC
BDO Capital Advisors, LLC is a leading middle market investment bank that focuses on mergers and acquisitions advisory, capital raising, and board advisory with offices located throughout the United States. The firm has deep industry knowledge, extensive cross-border transaction experience, and superior execution capabilities. BDO Capital Advisors, LLC provides sell-side and acquisition advisory, ESOP advisory, private placements, fairness opinions, and capital markets advisory. The firm has broad industry expertise and contacts having closed transactions within the Manufacturing & Distribution, Consumer, Food & Retail, Healthcare & Life Sciences, Business Services, Energy & Natural Resources, and Technology, Media & Telecom sectors. Our seasoned investment bankers have collectively advised on hundreds of transactions for a variety of clients including family-owned businesses, entrepreneur-led companies, public corporations, and leading private equity firms.
The firm has worldwide access to buyers, sellers, and offshore investors via the Corporate Finance practices of BDO International’s network of independent member firms which have been ranked collectively as a Top 5 global M&A midmarket advisor based on total deal volume announced in 2016, according to Thomson Reuters SDC. BDO International Corporate Finance firms operate in approximately 60 countries with over 2,000 professionals who are able to meet the investment banking needs of clients across the globe.
BDO Capital Advisors, our investment banker, played an important role in negotiating, structuring and closing our transaction with Main Street Capital Corporation. We were impressed by BDO Capital’s expertise and thoughtfulness in positioning the Company’s strong market position and growth initiatives throughout the process.