Investment Summary

Parkway Capital and Sidereal Capital Group Invest In Palmetto Adhesives

On February 28, 2023, mezzanine finance firm Parkway Capital and private equity firm Sidereal Capital Group invested in chemicals company Palmetto Adhesives

Investment Highlights
  • This is Parkway Capital’s 1st and Sidereal Capital Group’s 2nd transaction in the Chemicals sector.
  • This is Parkway Capital’s 19th and Sidereal Capital Group’s 6th transaction in the United States.
  • This is Parkway Capital’s 3rd and Sidereal Capital Group’s 1st transaction in South Carolina.

Investment Summary
Date 2023-02-28
Target Palmetto Adhesives
Sector Chemicals
Investor(s) Parkway Capital
Sidereal Capital Group
Deal Type Growth Capital

Target

Palmetto Adhesives

Greenville, South Carolina, United States
Palmetto Adhesives is a manufacturer and distributor of hot melt and water-based adhesives. Palmetto’s adhesives are primarily used in the packaging, paper converting, product assembly and general purpose industries. Palmetto Adhesives was founded in 1995 and is based in Greenville, South Carolina.

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Investor(S) 2

Investor

Parkway Capital

Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Parkway Capital is the mezzanine finance unit of Calvert Street Partners. Parkway's investments typically take the form of subordinated debt, which can be combined with a junior secured loan or preferred stock. If an opportunity calls for common equity, Parkway can also co-invest with other shareholders. Parkway looks to commit $3 to $12 million of capital per transaction in companies with at least $10 million in revenue and EBITDA in excess of $2 million. Funds are generally used to support business expansions, corporate acquisitions, leverage buyouts, recapitalization, ownership transfers, and 'wealth diversification'. Parkway Capital was formed in 2000 and became a unit of Calvert Street in 2019.

DEAL STATS #
Overall 20 of 25
Sector (Chemicals) 1 of 2
Type (Growth Capital) 4 of 6
State (South Carolina) 3 of 3
Country (United States) 19 of 24
Year (2023) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 GTA Containers

South Bend, Indiana, United States

GTA is a manufacturer of flexible containers and secondary containment systems, tactical fuel and water systems, and vehicle covers, liners, and doors for military and commercial applications. GTA Containers was formed in 1988 and is headquartered in South Bend, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 Dealer Solutions & Design

Duluth, Georgia, United States

Dealer Solutions & Design is a provider of the automotive fixed operation approach to design and outfitting fixed operations facilities with shop equipment for new and renovated automobile dealerships. DSD has now been involved in over 700 facility projects. Dealer Solutions & Design was founded in 2005 and is based in Duluth, Georgia.

Sell -
Investor

Sidereal Capital Group

Summit, New Jersey, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Sidereal Capital Group is a private equity firm that invests in small and lower middle-market companies operating within niche segments of the specialty manufacturing, industrial services, business services, and information services sectors. The Firm pursues profitable companies with $3 to $10 million in EBITDA and will consider opportunities throughout North America. Prospective transaction situations include family-owned companies, corporate carve-outs, recapitalizations, and consolidations. Sidereal Capital Group was formed in 2012 and is based in Summit, New Jersey.

DEAL STATS #
Overall 6 of 8
Sector (Chemicals) 2 of 2
Type (Growth Capital) 2 of 3
State (South Carolina) 1 of 1
Country (United States) 6 of 8
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-28 Ewaste+

Victor, New York, United States

Ewaste+ offers full-spectrum IT asset disposition services including onsite collections, data sanitation, product refurbishment, hard-drive destruction, resource recovery and chain of custody documentation. The company’s activities have diverted over 200 million pounds of electronic waste from disposal in landfills all while rigorously adhering to federal and state regulatory compliance. Ewaste+ was founded in 1995 and is based in Victor, NewYork.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-10 Peachey Hardwood Flooring

Reedsville, Pennsylvania, United States

Peachey Hardwood Flooring manufactures premium hardwood flooring and related millwork products. The Company offers handcrafted custom products across a broad selection of species, widths, cuts, stains, and finishes to wholesalers and distributors nationwide. Peachey Hardwood Flooring was founded in 1995 and is based in Reedsville, Pennsylvania.

Buy -
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