News
Parkway Capital Announces Investment in Heiden
July 2024 — Parkway Capital (“Parkway”) is pleased to announce an investment in Heiden, LLC (“Heiden”) and JPF Paint Finishes, LLC (“JPF” and collectively with Heiden, the “Company”). The transaction was led by Tightrope Capital Partners, who partnered with the senior management team to lead the recapitalization of the Company. Parkway and Callodine Strategic Credit (“Callodine”) invested subordinated debt and equity in support of the transaction.
Founded in 1958 and headquartered in Manitowoc, WI, Heiden provides custom metal fabrication services, including welding, laser cutting, stamping, drilling, bending and assembly, for companies across industrial markets. The Company, via JPF Paint Finishes, also provides industrial wet paint, powder coat, and media blasting. Heiden’s crane attachments division designs and manufactures uniquely engineered below-the-hook crane-truck attachments, including specialized grabbles, forks, dump boxes and clam buckets.
For more information, please visit https://www.heidenco.com/
About Calvert Street Investment Partners
Calvert Street Investment Partners is an SEC-registered investment advisor investing in lower middle-market companies through two distinct investment strategies: Crescentia Capital, its equity buyout business, and Parkway Capital, its mezzanine business. Collectively, Calvert Street Investment Partners’ investment professionals have invested over $1.1 billion in 145+ companies since 1995.
About Parkway Capital
Since 2000, Parkway Capital has made investments in partnership with management, funded and independent equity sponsors, and family offices, providing flexible junior capital alternatives for lower middle market companies. Joining forces with the Calvert Street Investment Partners team in 2019, Parkway has an experienced, mezzanine-focused investment group that continues a more than two-decade long legacy of making mezzanine and minority equity investments. The Parkway investment professionals have collectively invested more than $510 million of capital across 75+ portfolio companies.