Investors Advance Apex Linen $15.5 Million

Posted November 5, 2015 at 4:46 pm

Main Street Capital Corp., an investment firm based in Houston, recently announced that it is leading a new portfolio investment totaling $15.5 million to fund near-term growth opportunities for Apex Linen Service Inc., Las Vegas.

Main Street is funding $12.4 million of the investment, while a co-investor is adding $2.5 million, according to a news release. The investment includes a combination of first-lien, senior-secured term debt and a revolving line of credit. Main Street and its co-investor also have committed to provide $2.5 million of first-lien, senior-secured term debt in the near future, upon completion of certain conditions. In addition, Main Street and its co-investor are providing Apex Linen a conditional commitment beyond the $2.5 million for more capital to support future growth opportunities, the release said.

Founded in 2010 in Las Vegas, Apex Linen provides commercial laundry services to the hotel and gaming industry in “Sin City,” including some of the largest hotels on the Las Vegas Strip. Main Street’s investment will allow Apex to expand its current facility, and give it the flexibility to finance future growth opportunities. Click here for details.

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