Main Street Capital Corporation announced that it recently led a new portfolio investment to facilitate the recapitalization of Hawk Ridge Systems, LLC and related companies (collectively, "Hawk Ridge" or the "Company"), one of North America's largest value added resellers ("VAR") of SolidWorks' computer-aided design ("CAD"), computer-aided manufacturing ("CAM") and computer-aided engineering ("CAE") software solutions and 3D Systems Corporation's 3D printing solutions. Main Street, along with a co-investor, partnered with the Company's co-founder and chief executive officer to facilitate the transaction, which resulted in the buy-out of the chief executive officer's co-founding partners, with Main Street funding $13.0 million in a combination of first-lien, senior secured term debt and direct equity investment. In addition, Main Street and its co-investor are providing Hawk Ridge an undrawn credit facility to support its future organic and acquisition growth initiatives and working capital needs.
Headquartered in Mountain View, California, and founded in 1996, Hawk Ridge is one of the largest and most respected VARs of SolidWorks' CAD, CAM and CAE software solutions and 3D Systems' 3D printing solutions. The Company serves over 26,000 customers from its 16 office locations spanning the western United States and Canada.
Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors.