Riker Capital and Main Street Capital have acquired Garreco, a manufacturer and supplier of consumable dental products. Main Street Capital provided $5.8 million of senior secured term debt and a $1.2 million direct equity investment in this transaction.
Garreco is a manufacturer and supplier of consumable products used to create dentures, crowns, and bridges in dental laboratories and clinics. The company is one of the country’s largest manufacturers of specialized gypsum products used to create the plaster models and casts necessary to customize dentures, crowns, and bridges for a patient’s mouth. Garreco was founded in 1988 and is headquartered in Heber Springs, AR (www.garreco.com).
Riker Capital makes control investments in lower middle market companies that have revenues of at least $5 million and EBITDA of at least $1 million. Sectors of interest include food, consumer, and industrial products manufacturing; business services; and value-added distribution. The firm is led by its founder Riker “Rick” Stearns and is based in Chicago (www.rikercapital.com).
Main Street Capital provides long-term debt and equity capital to middle market and lower middle market companies in diverse industry sectors that have annual revenues from $10 million to $150 million. Main Street provides “one stop” financing alternatives within its lower middle market portfolio. Main Street’s common stock trades on the New York Stock Exchange under the symbol “MAIN.” The firm is based in Houston, TX (www.mainstcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-17-13