Private Equity Firm Financial Services

Parkway Capital

Towson, Maryland, United States

Parkway Capital provides flexible junior capital solutions to lower-middle market companies throughout the United States, investing in mezzanine debt and minority equity (typically $3 million to $12 million per transaction). Parkway Capital is the mezzanine business of Calvert Street Investment Partners.

Focus Areas
Mezzanine debt, Minority equity, Lower-middle market investment

Tracked deals

34

34 tracked deals across 2019-2025.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Recapitalization

16 recapitalization · 12 buyout · 5 addon

Parkway Capital Acquisition Volume by Year

Last 7 years

Acquisition volume by year Annual acquisition counts for the last 7 years for Parkway Capital. 5 2019 1 2020 6 2021 4 2022 10 2023 6 2024 2 2025

Supporting Data

Recent Transactions

Showing the 12 most recent of 34 tracked deals for Parkway Capital.

  • Buyer
    7 Seas Capital, Tico Capital Partners, Parkway Capital, Pine Street Capital Partners
    Target
    Precision Piping Products (P3)
    Seller
    Keith Nichols, Debbie Nichols
    Industry
    Manufacturing

    7 Seas Capital and Tico Capital Partners acquired a recapitalization stake in Precision Piping Products (P3), a Houston-based manufacturer of patented flange protection products, in a transaction that closed May 22, 2025. Parkway Capital and Pine Street Capital Partners provided subordinated debt and equity support alongside the new investors, with founders Keith and Debbie Nichols remaining in leadership.

  • Buyer
    Caymus Equity Partners LLC, SI Private Capital, LongWater Capital Solutions, Midwest Mezzanine Funds, Enterprise Bank
    Target
    Valley Lighting, LLC
    Type
    Buyout

    Caymus Equity Partners has acquired Valley Lighting, a Linthicum Heights, Maryland-based commercial lighting and shading solutions provider, with CEO Kathy Deppe and EVP Tommy Jones retaining meaningful ownership and remaining in leadership. The May 1, 2025 transaction was supported by SI Private Capital, LongWater Capital Solutions, Midwest Mezzanine Funds and Enterprise Bank; Caymus plans to help Valley expand its geographic footprint and grow its service offerings into key end markets such as data centers, government, and healthcare.

  • Buyer
    Tightrope Capital Partners, Parkway Capital, Callodine Strategic Credit
    Target
    Heiden, LLC, JPF Paint Finishes, LLC
    Industry
    Manufacturing

    Tightrope Capital Partners led a management-partnered recapitalization of Heiden, LLC and JPF Paint Finishes, LLC, with Parkway Capital and Callodine Strategic Credit providing subordinated debt and equity support. Heiden is a Manitowoc, Wisconsin-based custom metal fabricator (including a crane-attachments division) and, via JPF, offers industrial wet paint, powder coat and media blasting services.

  • Buyer
    ArchStar Capital, Parkway Capital
    Target
    Tess Oral Health
    Industry
    Medical Devices

    ArchStar Capital led a recapitalization investment in Tess Oral Health, the Eau Claire, Wisconsin-based manufacturer of custom-imprinted toothbrushes and dental kits. Parkway Capital (part of Calvert Street Investment Partners) provided subordinated debt and equity to support the transaction; proceeds will be used to bolster Tess's sales, marketing and operational capabilities.

  • Buyer
    Integra Testing Services, LLC, Keystone Capital, Midwest Mezzanine Funds
    Target
    Controlled Environment Certification Services (CE Services) (business of STERIS)
    Seller
    STERIS
    Location
    United States
    Type
    Addon

    Integra Testing Services, a Keystone Capital portfolio company, has acquired the Controlled Environment Certification Services ("CE Services") business from STERIS. Midwest Mezzanine provided subordinated debt to support the transaction, which expands Integra's cleanroom and controlled-environment certification, service/repair and environmental monitoring capabilities for the life sciences market.

  • Buyer
    Sidereal Capital Group, Micha Alexander, Parkway Capital, Farragut Capital Partners
    Target
    Mike Alexander Company, Inc. (MALCO)
    Seller
    Mike Alexander (founder)
    Industry
    Manufacturing

    Sidereal Capital Group partnered with senior management (led by Micha Alexander) to recapitalize Mike Alexander Company, Inc. (MALCO), a Tulsa-based manufacturer of refractory anchors and custom metal fabrication. Parkway Capital and Farragut Capital Partners provided subordinated debt and equity to support the transaction as part of a generational transition from founder Mike Alexander to his son Micha; terms were not disclosed.

  • Buyer
    Parkway Capital, Northcreek Mezzanine (Northcreek Mezzanine Fund IV)
    Target
    Comprehensive Prosthetics and Orthotics

    Parkway Capital and Northcreek Mezzanine (Northcreek Mezzanine Fund IV) partnered with CPO's senior management to lead a recapitalization of Comprehensive Prosthetics and Orthotics (CPO). Headquartered in Peoria, Illinois, CPO operates 24 clinics and 10 satellite locations across Illinois, Iowa, Missouri and Indiana; financial terms were not disclosed and Dresner Partners served as financial advisor.

  • Buyer
    Stonebridge Partners, Parkway Capital, Brookside Capital Partners, Spring Capital Partners, Marshall Walters
    Target
    Architectural Polymers, LLC

    Stonebridge Partners completed a recapitalization of Architectural Polymers, a Palmerton, Pennsylvania-based manufacturer of urethane and plastic formliners, partnering with founder Marshall Walters who remains CEO and largest shareholder. Debt and subordinated debt/equity financing was provided by Bank of Montreal, Brookside Capital Partners, Parkway Capital, and Spring Capital Partners to support the transaction and accelerate the company’s expansion in the concrete formliner market.

  • Buyer
    WILsquare Capital, Midwest Mezzanine Funds
    Target
    Automotive Color & Supply Corp.
    Seller
    The Byers Family
    Type
    Buyout

    WILsquare Capital, a St. Louis-based private equity firm, has completed the acquisition of Automotive Color & Supply (ACS), a regional distributor of automotive and industrial paints and supplies headquartered in Fort Wayne, Indiana. Midwest Mezzanine provided subordinated debt and equity to support the transaction; the Byers family, which founded ACS in 1951, will transition ownership as WILsquare partners with existing management to pursue growth and geographic expansion across the Midwest.

  • Buyer
    Parkway Capital, The Shoreham Group
    Target
    Merrill Industries, LLC
    Industry
    Packaging

    The Shoreham Group led a recapitalization of Merrill Industries, LLC, partnering with the company’s senior management. Parkway Capital supported the transaction by providing subordinated debt and minority equity to back the recapitalization of the corrugated packaging manufacturer serving Southern New England.

  • Buyer
    Hemingway Capital, Parkway Capital, Spring Capital Partners, IBC Funds
    Target
    Chibuzo, LLC
    Seller
    Werner and Theresa Hugo
    Industry
    Manufacturing

    New York-based private equity firm Hemingway Capital led a recapitalization of Chibuzo, LLC, a Fort Smith, Arkansas manufacturer of wood pallets and crates, partnering with Werner and Theresa Hugo. The transaction was financed with subordinated debt and preferred equity provided by Spring Capital Partners, Parkway Capital (a Calvert Street affiliate) and IBC Funds to support the acquisition/recapitalization.

  • Buyer
    Sidereal Capital Group, Parkway Capital, Farragut Capital Partners
    Target
    Peachey Hardwood Flooring
    Seller
    Don Coleman
    Industry
    Manufacturing

    Sidereal Capital Group led a recapitalization of Peachey Hardwood Flooring, partnering with the company's senior management while Parkway Capital and Farragut Capital Partners provided subordinated/unitranche debt and equity financing. The transaction provides liquidity to owner Don Coleman and will fund increased production capacity and growth initiatives at the Reedsville, Pennsylvania manufacturer of premium hardwood flooring and millwork.

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