MSC Income Fund Announces Exit of Portfolio Investment
MSC Income Fund Announces Exit of Portfolio Investment |
| [24-June-2026] |
Generates $11.6 Million Realized Gain fromExit of Equity Investment in Centre Technologies Holdings, LLC HOUSTON, June 24, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce that it recently exited its debt investments and equity investment in Centre Technologies Holdings, LLC ("Centre" or the "Company") upon the completion of a majority recapitalization with a new financial sponsor. Founded in 2006 and headquartered in Houston, Texas, Centre is a provider of information technology (IT) services, including managed services, cloud solutions, cyber security, IT consulting and business intelligence (BI) services to lower and middle market businesses, often serving as a fully outsourced IT department. The Fund partnered with Centre's existing owners and senior management team and Main Street Capital Corporation (NYSE: MAIN) ("Main Street") in January 2019 to facilitate a minority recapitalization of the Company and provide growth capital to help facilitate the Company's acquisition growth strategy. The Fund's initial investment consisted of a $0.6 million revolving line of credit, a $3.1 million first lien, senior secured term loan and a $1.5 million direct equity investment. After the Fund's initial investment, Centre completed seven follow-on acquisitions with MSC Income funding an additional cumulative $6.9 million under the first lien, senior secured term loan facility and $0.1 million in direct equity investments to support the Company's acquisition strategy and other corporate activities, resulting in the Fund's total debt investments and total equity investments growing to $10.6 million and $1.6 million, respectively. The Fund realized a gain of $11.6 million on the exit of its equity investment in Centre, including a minority equity ownership position in Centre's acquirer that the Fund received as part of the sale proceeds, with this realized value representing an increase of $1.7 million above the Fund's fair market value for this equity investment as of March 31, 2026. The Fund also received total dividends of $0.5 million over the life of its equity investment in the Company. As a result, on a cumulative basis since the Fund's initial investment in January 2019 and taking the realized gain, dividends and fees into consideration, the Fund realized an annual internal rate of return ("IRR") of 40.1% and an 8.8 times money invested ("TMI") return on its equity investment in Centre. On a cumulative basis including both the Fund's debt and equity investments in the Company, the Fund realized an IRR of 23.2% and a 2.4 TMI return. ABOUT MSC INCOME FUND, INC. MSC Adviser I, LLC (the "Adviser") is a wholly-owned subsidiary of Main Street that is registered as an investment adviser under the Investment Advisers Act of 1940, as amended. The Adviser serves as the investment adviser and administrator of the Fund in addition to several other advisory clients. Contacts: Dennard Lascar Investor Relations
SOURCE MSC Income Fund, Inc. | ||
Company Codes: NYSE:MSIF |
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