Fundamental Avenue Capital invests in swimming pool firm

Main Street Capital Corp. completed a $ 24.4 million portfolio investment in Cody Pools, a designer and manufacturer of custom swimming pools and spas for residential and business customers in the United States.

Houston-based Main Street and its co-investors have partnered with Cody Pool’s senior management team on the transaction. Main Street financing included a combination of mortgage liens, senior secured debt and a direct equity investment. The deal also includes a line of credit to support the company’s future growth and working capital needs.

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Austin-based Cody Pools was founded in 1994 and has built more than 12,000 pools. It also has offices in San Antonio, Houston and Tampa, Florida.