Investment Summary

Parkway Capital Invests In Tess Oral Health

On June 18, 2024, mezzanine finance firm Parkway Capital invested in consumer products company Tess Oral Health

Investment Highlights
  • This is Parkway Capital’s 3rd transaction in the Consumer Products sector.
  • This is Parkway Capital’s 28th transaction in the United States.
  • This is Parkway Capital’s 1st transaction in Wisconsin.

Investment Summary

Date 2024-06-18
Target Tess Oral Health
Sector Consumer Products
Investor(s) Parkway Capital
Deal Type Growth Capital

Target

Tess Oral Health

Eau Claire, Wisconsin, United States
Tess Oral Health is an FDA-approved manufacturer of high-quality, personalized toothbrushes and oral hygiene products for dental and orthodontic practices. Tess specializes in customized toothbrushes and take-home patient kits, which include dental floss, retainer cases, toothpaste, lip balm, and other interdental products. Tess Oral Health was founded in 1989 and is based in Eau Claire, Wisconsin.

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Investor(S) 1

Investor
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 29 of 30
Sector: Consumer Products M&A 3 of 3
Type: Growth Capital M&A Deals 8 of 9
State: Wisconsin M&A 1 of 2
Country: United States M&A 28 of 29
Year: 2024 M&A 3 of 4
PREVIOUS 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.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-31 Heiden

Manitowoc, Wisconsin, United States

Heiden is a steel manufacturing company and provides custom metal fabrication services, including welding, laser cutting, stamping, drilling, bending and assembly, for companies across industrial markets. Heiden was founded in 1958 and is based in Manitowoc, Wisconsin.

Buy -