Investment firm D.A. Davidson served as exclusive financial advisor to Hawk Ridge Systems related to its recapitalization by Main Street Capital and management.
Hawk Ridge Systems is a reseller of SolidWorks’ computer-aided design, manufacturing and engineering software solutions and as well as its 3D printing solutions.
Main Street, a principal investment firm providing long-term debt and equity capital to lower middle market and middle market companies, partnered with Hawk Ridge’s co-founder and chief executive officer to facilitate the transaction, which resulted in the buyout of the chief executive officer’s co-founding partners through the investment of $16.25 million in a combination of first-lien, senior secured term debt and direct equity from Main Street and a co-investor.
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.
“Over the past 20 years, Hawk Ridge’s co-founders have built one of the most well-respected and technically sophisticated companies within the SolidWorks ecosystem,” said Brad Gevurtz, head of Technology Investment Banking at D.A. Davidson. “By partnering with Main Street, Hawk Ridge was able to provide full liquidity to several of the company’s co-founders, while allowing management to retain control of the business and further the company’s vision of being a preeminent provider of engineering software and additive manufacturing solutions.”