NEW YORK—April 28, 2020—
“We are excited about this collaboration with Main Street as we move forward with our business strategy,” stated David Swinford, President and CEO of Pearl Meyer & Partners. “Our core mission remains focused on enabling our clients to strategically align executive compensation with their broader business and leadership strategies, thereby fostering a strong competitive advantage. However, we also recognize the evolving landscape of our clients’ needs and the expanding responsibilities of boards and compensation committees. These now increasingly include oversight of diverse human capital issues intrinsically linked to compensation strategies. This partnership with Main Street provides Pearl Meyer & Partners with a valuable opportunity to strengthen our existing capabilities, develop new competencies, and expand our reach into new industry sectors.”
Colton Braud, Managing Director at Main Street Capital Corporation, also shared his perspective on the new venture: “We are delighted to support Pearl Meyer & Partners in their next phase of growth. The leadership team and senior consultants at Pearl Meyer & Partners have built an exceptional firm, highly respected within the industry and by their clientele as a premier professional services organization specializing in executive compensation. We look forward to working closely with the Pearl Meyer & Partners team to explore and capitalize on various growth opportunities, both organically and through strategic acquisitions, to further build upon the firm’s impressive track record of success.”
Prior to this partnership with Main Street Capital, Pearl Meyer & Partners enjoyed a successful ten-year partnership with Benson Botsford, LLC, who served as their sole private equity investor. During this period, James Benson, Chairman, and Alan Botsford, President of Benson Botsford, LLC, were integral members of the Pearl Meyer & Partners board. They collaborated closely with the firm’s senior management, contributing significantly to firm strategy and key objectives. “We deeply value our long-standing relationship with Jim and Alan,” acknowledged Swinford. “Their insights and perspectives have been truly invaluable to Pearl Meyer & Partners.”
Reflecting on the previous partnership, Jim Benson and Alan Botsford jointly commented, “This investment in Pearl Meyer & Partners marks our seventh and largest within the professional services sector, and undoubtedly one of our most successful. It has been a privilege to witness and contribute to the growth and evolution of Pearl Meyer & Partners’ business and service offerings. We are confident in Pearl Meyer & Partners’ continued success and future achievements.”
Over the past year, Pearl Meyer & Partners has strategically enhanced its service offerings and expertise, incorporating leadership development, succession planning, and board assessment capabilities. Furthermore, the firm has expanded its industry-specific compensation consulting experience in key sectors including real estate, credit unions, and community banking within the Southeast region. Pearl Meyer & Partners also continues to develop new compensation surveys across these and other sectors. These surveys provide essential data to support industry-focused consulting engagements, informed decisions regarding employee pay, and the design of effective broad-based reward strategies for their clients.
About Main Street Capital Corporation (NYSE: MAIN)
Main Street Capital Corporation (www.mainstcapital.com) is a principal investment firm specializing in providing long-term debt and equity capital. Their investment focus is primarily on lower middle market companies, while also extending debt capital to middle market companies. Main Street’s investment portfolio typically supports management buyouts, recapitalizations, growth financing initiatives, refinancings, and strategic acquisitions for companies operating across diverse industries. Main Street actively seeks partnerships with entrepreneurs, business owners, and management teams, often offering “one-stop” financing solutions within the lower middle market. Companies within Main Street’s lower middle market portfolio generally have annual revenues ranging from $10 million to $150 million. Main Street’s middle market debt investments target businesses that are typically larger in scale than their lower middle market portfolio companies.
