M&A Deal Summary

Parkway Capital and Northcreek Mezzanine Acquire Comprehensive Prosthetics and Orthotics

On February 20, 2024, mezzanine finance firm Parkway Capital and Northcreek Mezzanine acquired medical products company Comprehensive Prosthetics and Orthotics

Acquisition Highlights
  • This is Parkway Capital’s 1st and Northcreek Mezzanine’s 3rd transaction in the Medical Products sector.
  • This is Parkway Capital’s 24th and Northcreek Mezzanine’s 29th transaction in the United States.
  • This is Parkway Capital’s 2nd and Northcreek Mezzanine’s 1st transaction in Illinois.

M&A Deal Summary
Date 2024-02-20
Target Comprehensive Prosthetics and Orthotics
Sector Medical Products
Buyer(s) Parkway Capital
Northcreek Mezzanine
Deal Type Recapitalization

Target

Comprehensive Prosthetics and Orthotics

Peoria, Illinois, United States
Comprehensive Prosthetics and Orthotics is a prosthetic and orthotic service provider to the adult and pediatric markets that provides consultation and fitting services, follow-up treatment services, and custom product fulfillment. Comprehensive Prosthetics and Orthotics was founded in 2006 and is based in Peoria, Illinois.

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Buyer(S) 2

Buyer

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 25 of 26
Sector (Medical Products) 1 of 1
Type (Recapitalization) 7 of 7
State (Illinois) 2 of 2
Country (United States) 24 of 25
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-27 Chibuzo

Fort Smith, Arkansas, United States

Chibuzo is a flexible manufacturer of custom, high-mix pallets, crates, grade stakes, mulch, shavings, and sawdust. Consisting of two operating entities, General Pallets & Crates and Southland Manufacturing, Chibuzo specializes in new wood pallets and crating, providing high quality products and value-added services. Chibuzo is based in Fort Smith, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-21 Malco

Tulsa, Oklahoma, United States

Malco manufactures and distributes hardware anchors specially designed to secure refractory linings for industrial furnaces, kilns, reactors, boilers, and other high-temperature environments found in petrochemical plants, cement and steel manufacturing, and power generation facilities. The Company also fabricates structural metal assemblies such as flare systems, pressure vessels, storage tanks, and processing equipment. Malco was founded in 1982 and is based in Tulsa, Oklahoma.

Buy -
Buyer

Northcreek Mezzanine

Category Private Equity Firm
Founded 2010
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 29 of 29
Sector (Medical Products) 3 of 3
Type (Recapitalization) 6 of 6
State (Illinois) 1 of 1
Country (United States) 29 of 29
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-08 Jor-Mac

Lomira, Wisconsin, United States

Jor-Mac is a manufacturer of metal fabrications and electromechanical-assemblies for OEMs in the HVAC, industrial automation, and back-up power / grid infrastructure space. Jor-Mac was founded in 1952 and is based in Lomira, Wisconsin.

Buy -
Mergr

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