TLDR:
– Parkway Capital, the mezzanine unit of Calvert Street Investment Partners, has invested in Tulsa-based MALCO.
– MALCO specializes in manufacturing hardware anchors for high-temperature environments like petrochemical and power-generating plants.
Lutherville, Md.-based Parkway Capital, the mezzanine unit of Calvert Street Investment Partners, has made an undisclosed investment in Tulsa, Okla.-based Mike Alexander Company, or MALCO. The transaction was part of a recapitalization of the specialty manufacturer under a partnership with senior management. Parkway and Farragut Capital Partners invested in subordinated debt and equity. MALCO, founded in 1982, produces hardware anchors to secure refractory materials in high-temperature environments such as kilns and furnaces. Its products are used in petrochemical, cement, steel, and power-generating plants.
Calvert Street Investment Partners operates two units — Parkway Capital, which provides flexible junior capital solutions to lower-middle market companies, and Crescentia Capital, which is in private equity. Parkway Capital typically makes mezzanine debt and minority equity investments of between $3 million and $12 million per transaction. Its over 70 portfolio companies span manufacturing, distribution, consumer products, business and industrial services, and healthcare. Since its inception, Parkway Capital has invested over $500 million.
Andrew Silverman serves as Parkway Capital’s managing director while Michael Booth is Crescentia Capital’s chief investment officer. Brian Guerin is the private equity unit’s managing partner.
