MCG Capital has closed a USD20m investment in Midwest Technical Institute (MTI).
MCG’s investment consists of a senior secured unitranche credit facility and revolving line of credit.
MTI is a private, post-secondary school providing career education in the fields of welding, HVACR, allied health and cosmetology with five campuses across Illinois and Mississippi.
MCG’s investment is made in conjunction with the recapitalisation of MTI by Summer Street Capital, a private equity firm with more than USD550m of capital to make equity investments that typically range from USD15m to USD30m.
