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Main Street Invests $16.4MM in Hawk Ridge Systems

Date: Dec 16, 2021 @ 07:00 AM
Filed Under: Technology

Main Street Capital Corporation recently completed a follow-on investment in an existing portfolio company. Main Street, along with its co-investor, made the follow-on investment in Hawk Ridge Systems, LLC to support the Company's acquisition of a complimentary leading value-added reseller of SolidWorks software solutions and Markforged 3D printing solutions in a new geographic area that is highly complementary to Hawk Ridge's existing geographies, and to provide financing for the Company's continued internal growth initiatives. Main Street's portion of the follow-on investment consists of an additional $16.4 million first lien, senior secured term debt investment.

Headquartered in Mountain View, California, and founded in 1996, Hawk Ridge is one of the largest and most respected value-added resellers of SolidWork's various software solutions and Hewlett-Packard's and Markforged's 3D printing solutions, in addition to a variety of other engineering software solutions and 3D printing, scanning and post-processing technologies. The Company serves over 30,000 customers from its 26 office locations spanning the West Coast and Midwest United States and Canada. This acquisition provides Hawk Ridge with significant incremental geographical reach, allowing Hawk Ridge to cover the United States and Canada coast-to-coast, as well as the acquisition of leading sales and technical resources to bolster Hawk Ridge's existing team and better service both companies' customers. Since Main Street's initial investment in Hawk Ridge in December 2016, the Company has strategically expanded its geographical coverage, bolstered its product offering and completed ten acquisitions to complement the Company's strong organic growth.

The Acquired Company is also a leading value-added reseller of engineering design and manufacturing solutions, specifically SolidWorks software solutions and Markforged's 3D printing solutions with a highly complementary geography. The Acquired Company's long-established presence in its geography and strong existing customer relationships provide Hawk Ridge with the optimal entry to this new geography and a coast-to-coast presence. The combined platform will offer existing customers with a bolstered product offering, nationwide support and a deeper bench of technical resources.

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