NEW YORK—April 28, 2020—Executive compensation consultancy Pearl Meyer today announced its new investment partnership with Main Street Capital Corporation (NYSE: MAIN). Main Street (www.mainstcapital.com) provides long-term investment capital to middle market and lower middle market firms in support of their strategic growth objectives.
“We look forward to working with Main Street as we execute our business strategy,” said David Swinford, president and CEO of Pearl Meyer. “We will continue to focus on helping our clients align executive compensation with business and leadership strategy to create competitive advantage. We also recognize, however, that the needs of our clients and the purview of both boards and compensation committees are expanding to encompass oversight of a broad array of human capital issues that are linked to compensation. This relationship gives our firm the opportunity to enhance our current and future capabilities as well as expand into new industry sectors.”
Colton Braud, a managing director at Main Street, commented, “We are thrilled to be supporting Pearl Meyer through its next phase of growth. The company’s management team and senior consultants have built an impressive business that is highly regarded by its clients and peers alike as one of the premier professional services organizations focused on executive compensation. We look forward to partnering with the Pearl Meyer team to pursue a range of growth opportunities, both internal and through select acquisitions, to build on the company’s historical success.”
Prior to Main Street, Pearl Meyer was in partnership with Benson Botsford, LLC who was its sole private equity investor. During the 10-year relationship, James Benson, chairman, and Alan Botsford, president, were Pearl Meyer board members and worked with the firm’s senior management on firm strategy and objectives. “We very much appreciate our long-standing collaboration with Jim and Alan,” said Swinford. “Their insights and perspectives were invaluable.”
“This marks the seventh and largest investment that we have made in professional services, and certainly one of the most successful. It has been an honor to work with the Pearl Meyer team as they have grown and developed their business and services. We are confident that Pearl Meyer will continue to make great strides in the future,” said co-founders Jim Benson and Alan Botsford.
Over the last year, Pearl Meyer has added expertise in leadership development, succession planning, and board assessment as well as compensation consulting industry experience in real estate, credit union, and community banking in the southeast. New compensation surveys in these sectors and others provide data to support industry-focused consulting engagements, employee pay, and broad-based reward strategies.
About Main Street Capital Corporation (NYSE: MAIN)
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one stop” financing alternatives within its lower middle market portfolio. Main Street’s lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street’s middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.