MSC Income Fund Co-Invests $21.1 Million in Three Follow-On Loans
MSC Income Fund co-invested alongside Main Street Capital in three follow-on senior secured term loans totaling $21.1 million to support strategic acquisitions at Nello Industries, Revolution and Gamber-Johnson. The deployments expand MSC Income Fund’s exposure to engineered utility steel structures, aerial geospatial services and rugged mounting systems for defense and fleet markets.
1. Co-Investment Overview
MSC Income Fund, Inc. partnered with Main Street Capital to commit a total of $21.1 million in follow-on senior secured term loans across three existing lower middle market portfolio companies. These deployments reinforce MSC Income Fund’s strategy of supporting strategic acquisitions and expanding secured debt exposure alongside its manager.
2. Nello Industries Investment
The fund provided capital to support Nello Industries’ acquisition of a business that broadens its engineered steel pole and substation product lines. This fourth follow-on investment since 2024 demonstrates MSC Income Fund’s commitment to the electric utility and telecommunications structures end markets.
3. Revolution Investment
A $7.5 million first lien, senior secured term loan was made to Revolution to back a strategic acquisition enhancing its aerial survey, geospatial services and MRO capabilities. This marks the second follow-on investment since MSC Income Fund’s initial recapitalization of Revolution in 2025.
4. Gamber-Johnson Investment
MSC Income Fund joined in a $4.4 million senior secured term loan to Gamber-Johnson to finance the acquisition of a weapons-retention solutions provider. This seventh follow-on investment since 2016 bolsters the company’s one-stop product portfolio for law enforcement and defense mobility applications.