Main Street Invests in GMI-Maass Merger, Establishing Gulf Manufacturing Holdings

The merger creates Gulf Manufacturing Holdings, LLC, which will own both GMI and Maass.

Main Street Capital Corporation has recently completed a follow-on investment in Gulf Manufacturing, LLC (GMI) to facilitate the acquisition of Maass Global Group (Maass). The investment from Main Street comprises a USD 40.0 million first lien, senior secured term debt, and a revolving line of credit to support GMI's future growth endeavors and working capital requirements. The merger establishes Gulf Manufacturing Holdings, LLC, which will assume ownership of both GMI and Maass.

GMI specializes in the manufacturing and supply of fittings, flanges, and specialized products for the oil and gas industry, serving customers across the United States. The company has been a recipient of Main Street's investment since 2007. With the transaction complete, the combined entity will operate globally, with manufacturing and distribution facilities across the United States, Europe, and Asia. The merger will enable the new entity to offer a broader range of products and services to customers worldwide.