PALO ALTO, Calif., Oct 30, 2007 (BUSINESS WIRE) -- Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the premier specialty finance company providing venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, today announced that on October 18, 2007, the company provided debt financing to support Riverside Partners' buyout of MaxVision Corporation, a Madison, Ala.-based computer engineering and manufacturing company.
MaxVision, which was founded by entrepreneurs and brothers Bruce and Paul Imsand, develops and manufactures high performance, portable computer workstations for U.S. military and intelligence applications and commercial uses. MaxVision's workstations are used as in-field command centers for extreme environments on the front line, providing real-time data for military operations. The company has also developed a strong commercial line of products used for uncompressed high definition video editing as well as for enterprise video applications.
"Riverside Partners' decision to invest in MaxVision presented Hercules the opportunity to have a stake in an established and profitable company with a successful track record," commented Mark Denomme, managing director at Hercules. "The dynamic leadership of Bruce and his forward-thinking management team, along with their new partners at Riverside Partners, will continue to keep MaxVision on the forefront of this industry."
Bruce Imsand, MaxVision's CEO, added, "Our partnership with Riverside Partners and Hercules will allow us to continue our strong growth and penetration into the emerging niche of high performance, portable, ruggedized computer workstations for military and commercial applications."
"Hercules' flexible financing solutions were essential to this great partnership," said David Belluck, general partner at Riverside Partners. "When we presented the opportunity with MaxVision to Hercules, Mark and his team quickly responded with several financing options for us to choose from, allowing Riverside to select which products would best meet the company's needs."
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. Founded in December 2003, the company primarily finances privately held companies backed by leading venture capital and private equity firms. Hercules invests in a broad range of ventures active in technology and life science industries and offers a full suite of growth capital products up and down the capital structure. The company is headquartered in Palo Alto, Calif. and has additional offices in the Boston, Boulder, Los Angeles and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.HTGC.com.
Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.
About Riverside Partners:
Founded in 1989, Riverside Partners is a private equity firm that invests in leading healthcare and technology companies based in North America, with a particular focus on companies that are founder - and family-owned. Our goal is to partner with companies to add significant value while allowing owners to reach their personal financial and professional goals.
Founded in 1993, MaxVision(R) is a rapidly growing specialty portable/deployable workstation and server company focused only on the most demanding applications requiring extreme performance, large multiple displays, large hard drive storage and robust performance in adverse environments. MaxVision focuses on emerging and uncompressed HD video. MaxVision is also a mass custom engineering/manufacturing company which provides total custom design and manufacturing services for aerospace, defense and commercial partners where no solutions are presently available. For more information, please contact MaxVision at www.maxvision.com.
The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.
SOURCE: Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. Main, 650.289.3060 HT-HN firstname.lastname@example.org or Sally Borg, 650.289.3066 email@example.com
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