Predominant Road Capital invests in swimming pool firm

Photo by Katherine Feser

March 11, 2020 Updated: March 11, 2020, 3:35 pm

Main Street Capital invested in a swimming pool company with offices in Houston.

Jenifer McNeil Baker

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.

Katherine Feser covers a variety of topics related to the Houston Chronicle Business. She coordinates some of the newspaper’s most popular specialty sections, including the Chronicle 100, Home Price Survey, and Top Workplaces. It compiles many of the section’s staples, including the Daily Markets, People in Business, Events Lists, and Real Estate Transactions page.