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Broadview Group Invests in Solution Matrix, Inc.

Broadview Group Holdings, LLC (“Broadview”), a leader in direct middle-market investing, announced today its investment in Solution Matrix, Inc. (“SMI” or the “Company”) in conjunction with EXI Investment Partners ("EXI"), management, and other co-investors. Terms of the transaction were not disclosed.

Based in Rocky Mount, Virginia, and founded in 2004, SMI is a manufacturer and distributor of engineered cold therapy products used by patients after orthopedic surgical procedures to aid in post-procedure recovery and ongoing rehabilitation applications. The Company serves 400+ different hospitals, rehab centers, and surgery centers nationwide. The Company's 120+ SKUs include highly differentiated gel pack solutions and compression wraps formed for specific body areas and targeted at specific therapeutic techniques. The Company's gel packs provide up to four hours of cold duration and allow for patient mobility, providing post-operation caregivers a better solution to expensive cooler systems or ineffective, low-cost ice packs. SMI manufactures its entire product portfolio in Rocky Mount, VA.

“SMI is a really good business and a great example of our focus on truly differentiated engineered products companies,” said Clay Hunter, Co-Founder and Chief Executive Officer at Broadview. “This was a unique opportunity to partner with the EXI team where both institutions bring previous investing experience in engineered products businesses and the medical device space. As healthcare procurement teams continue to balance patient outcomes with cost containment, SMI addresses that pain point by offering an alternative that delivers high value to patients and caregivers. We believe the combination of the Company's top-tier customer service and differentiated product offering will continue to drive long-term growth. Rick Sell, the president of SMI, and his team have done an excellent job in developing a robust product portfolio that has been widely accepted by healthcare professionals nationwide as the premier solution for cold therapy compression needs.”


“We are very excited to partner with the Broadview and EXI team,” said Sell. “Both groups share our strategic vision to grow our sales channels and accelerate product development. Their teams bring deep investing experience in businesses like ours, and we look forward to utilizing their resources to help accelerate our growth both organically and via strategic acquisitions.”


Solution Matrix was advised by Benchmark International in connection with the transaction.

ABOUT BROADVIEW GROUP HOLDINGS, LLC

Broadview Group Holdings, LLC invests in and partners with successful business owners and growth-oriented leadership teams to help scale and create significant and sustainable value in commercial and industrial products, specialty distribution, industrial services and food and agriculture businesses. Our permanent capital base and long-term perspective ensure true alignment with our partners and portfolio companies. Broadview Group’s principals have decades of experience leading and scaling businesses and providing strategic insight and other expertise as executives, lead investors and board members in a variety of businesses and industries.


ABOUT EXI INVESTMENT PARTNERS

EXI Investment Partners is a private equity firm that invests in high cash-flowing, well-managed businesses with substantial unrealized growth opportunities. EXI seeks to build enduring and compounding value over an extended timeframe with small and mid-size industrial and business service companies. The founding partners of EXI have more than 60 years of collective private equity experience and a track record of successfully growing companies of this nature.

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