HMS Income Fund makes term debt, equity investment in Datacom

By Toni Weeks

San Luis Obispo, Calif., June 3 - HMS Income Fund, Inc. made a $1.9 million investment in Datacom, LLC as part of a $19.2 million investment led by Main Street Capital Corp., parent company of the subadviser to HMS.

The investment includes first-lien senior secured term debt and a direct equity investment.

According to a press release, HMS and Main Street are also providing Datacom with an undrawn revolving line of credit to support its future working capital needs along with a commitment for additional term loans to support future growth.

Proceeds were used to complete a minority recapitalization, refinance existing debt and provide capital to fund Datacom's near-term growth opportunities.

Houston-based HMS is an externally managed, non-diversified, closed-end management investment company that invests in lower-middle-market companies. Lafayette, La.-based Datacom is a provider of communication and data transfer technology solutions primarily to the oil and gas exploration and production and marine industries.

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