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Main Street Capital Corporation is pleased to announce that it recently completed a follow-on investment in an existing portfolio company totaling $22.3 million. Main Street’s follow-on investment in CAI Software, LLC supported the Company’s acquisition of Radley Corporation (“Radley”), a complementary business in the electronic data interchange (“EDI”) and data collection software solution industry, significantly expanding the Company’s customer base and service offerings. The follow-on investment consists of an additional $21.3 million of first lien, senior secured term debt and a $1.0 million equity investment.
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Founded in 1978 and headquartered in Smithfield, Rhode Island, CAI is a leader in the delivery of mission-critical enterprise resource planning (ERP), manufacturing execution systems (MES), warehouse management systems (WMS) software and related services. This acquisition adds significant value to CAI’s existing portfolio of products and services and continues the Company’s growth strategy. Prior to this most recent acquisition, the Company previously acquired MultiProcess Computer Corporation (June 2017), Integrated Management Solutions, Inc. (January 2018), Casco Development, Inc. (December 2018) and Robocom Corporation (June 2020), acquisitions which expanded the Company’s software product offerings and added scale and diversity to the Company’s revenues. Main Street made its initial investment in CAI during the fourth quarter of 2014.
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Founded in 1974 and headquartered in Detroit, Michigan, Radley develops, implements, distributes and services EDI and data collection solutions across the automotive, retail, manufacturing and various other end-markets. Radley’s long-established and well-trusted platform has been a leader in the automotive industry as EDI became a key component across the complex automotive supply chain and will contribute significant customers and scale to CAI’s operations.
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