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 26th and Northcreek Mezzanine’s 28th 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
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 27 of 30
Sector: Medical Products M&A 1 of 1
Type: Recapitalization M&A Deals 8 of 8
State: Illinois M&A 2 of 2
Country: United States M&A 26 of 29
Year: 2024 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-16 Merrill Industries

Ellington, Connecticut, United States

Merrill Industries is a manufacturer and sells high-quality corrugated and solid fiber packaging products, and resells packing filler materials such as foam and plastic inserts. Merrill Industries was founded in 1973 and is based in Ellington, Connecticut.

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 28 of 28
Sector: Medical Products M&A 3 of 3
Type: Recapitalization M&A Deals 6 of 6
State: Illinois M&A 1 of 1
Country: United States M&A 28 of 28
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 PFI Instore

Hazelwood, Missouri, United States

PFI Instore is a merchandising solution provider to retailers and consumer-branded product companies. PFI's products and solutions can be found in most major convenience, grocery, specialty, and department stores in the United States. PFI Instore was founded in 1956 and is based in Hazelwood, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-30 Pat Tank

Port Arthur, Texas, United States

Pat Tank specializes in the design, fabrication, erection and repair of above-ground steel-welded storage tanks and related steel structures for the petroleum, natural gas, agriculture, power generation and chemical industries. Pat Tank was founded in 1945 and is based in Port Arthur, Texas.

Sell -