Main Street Capital Corp. recently added a new portfolio investment to recapitalize YSN Imports LLC., dba Flame King, a propane storage solutions and accessories supplier.
Main Street, along with its co-investor, partnered with Flame King’s existing owners and management team to buy the business.
Main Street funded $31.6 million in a combination of first-lien, senior secured term debt and a direct equity investment. Main Street and its co-investor also provided Flame King with a revolving line of credit to support future growth initiatives and working capital needs.
Flame King sells its propane storage and accessories indirectly to recreational consumers through RV OEMs, retailers and propane tank exchangers. eCommerce platforms facilitate direct-to-consumer purchases. Flame King supplies commercial and industrial customers with its steel propane cylinders including refrigerant, buffer and forklift cylinders for recreational, commercial, industrial and home applications.
