Main Street Capital Corp. recently invested a total of $19.5 million in three existing companies PPL RVs, Inc. (PPL), Centre Technologies Holdings, LLC and Nebraska Vet AcquireCo, LLC, dba Heritage Vet Partners, P.C.
Main Street’s follow-on investment in PPL Motorhomes was made to support the acquisition of RV Swap Shop in Summerfield, Florida, and to support the company’s continued growth initiatives, Main Street said.
Founded in 1972, PPL is a dealer of used RVs, parts, service and third-party financing from its three Texas dealerships located in Houston, New Braunfels and Cleburne and from its newest Florida location.
The company sells RVs on a consigned and company-owned basis. Main Street originally invested in PPL in June 2010 to recapitalize the company and provide growth capital. The new investment is an additional $8 million loan.
Read the RV News PPL expansion story here.
