Main Street Capital Corporation has invested $6.5 million in Currie Acquisitions, LLC, dba Currie Technologies, the largest U.S.-based designer and distributor of electric bicycles and electric scooters for personal mobility.
Currie Technologies owns patented and proprietary hybrid-electric drive systems allowing for more functionality at lower price points. Currie Technologies future growth plans include domestic and international channel expansion.
On a cumulative basis during 2010, Main Street has also invested a total of $11 million in various other interest-bearing debt securities issued by Currie Technologies at a weighted average interest coupon of approximately 13%.
Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street’s investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one-stop” financing alternatives to its portfolio companies.
