Main Street exits portfolio investment in Lamb Ventures
Main Street recently fully exited its debt and equity investments in Lamb Ventures upon the sale of Lamb's to a sponsor-backed strategic acquirer. Founded in 1987 and headquartered in Austin, Texas, Lamb's operates 18 tire and automotive repair retail locations throughout the greater Austin area. Main Street realized a gain of $6.0M on the exit of its equity investment in Lamb's, with this realized value representing an increase in value of $0.1M above Main Street's fair market value of this investment as of March 31. On a cumulative basis since Main Street made its initial investment in 2008, Main Street realized an annual internal rate of return of 11.0% and a 2.2x times money invested return on its cumulative debt and equity investments in Lamb's.