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American Changer
Ft. Lauderdale, FL
Description: American Changer Corporation is a market leader in
the design and production of low cost currency changing equipment used
primarily in the amusement, vending, car wash and laundry industries.
Transaction Summary: Parkway provided Subordinated Debt to the
Company to facilitate the acquisition of Hoffman Mint, a California-based
company which produced stock and customized tokens. In addition, Parkway
purchased Common Stock representing a minority interest in the newly combined
operations.
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American Dryer
Fall River, MA
Description: American Dryer is a leading manufacturer of
commercial laundry dryers, providing innovative and energy-efficient drying
solutions for the hospitality, lodging, hospital and laundromat markets in 90
countries worldwide. The Company manufactures a broad array of dryer models
each expressly designed to perform in a variety of challenging environments
with speed, precision, efficiency, and reliability.
Transaction Summary: Parkway Capital provided Junior Secured
Notes, Subordinated Debt and Preferred Stock to support the recapitalization of
American Dryer.
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Aspect Automation
Minneapolis, MN
Description: Aspect Automation is a premium supplier of
development, design, build and support services involving custom automated
manufacturing equipment. The Company supports enhanced manufacturing processes
of finished products for medical, industrial filtration, energy storage and
consumer products end markets.
Transaction Summary: Parkway provided Subordinated Debt with
Warrants and Redeemable Preferred Stock with Warrant Shares in support of this
private equity acquisition.
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Easley Custom Plastics
Easley, SC
Description: Easley Custom Plastics has established itself as a
well respected, full service custom injection molder which specializes in
large, difficult to manufacture polypropylene products and components. Easley
provides design, testing and assembly services in addition to injection
molding.
Transaction Summary: Parkway backed a management bid to acquire
the business, providing Subordinated Debt and Redeemable Preferred Stock, from
a private equity seller. As the sole institutional investor, Parkway holds a
significant Minority Equity interest.
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Fab-Tech
Colchester, VT
Description: Fab-Tech is the leading manufacturer of coated
stainless steel, corrosive fume exhaust systems for the semiconductor,
university lab and other industrial markets.
Transaction Summary: Parkway invested Senior Subordinated Notes
with Warrants and Common Equity in support of a private equity sponsored
acquisition of this unique, highly cyclical business. This represents the
second time Parkway has supported an ownership transfer of the Company.
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Jones & Frank
Raleigh, NC
Description: Jones & Frank is a regional distributor of
fueling equipment and related electronic components to the retail and
commercial petroleum industry. The Company also contracts for the installation
and servicing of fueling equipment throughout the southeast and mid-Atlantic.
Transaction Summary: Parkway backed a private equity purchaser
with Subordinated Debt and a Minority Equity investment.
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Potter Electric Signal Company
St. Louis, MO
Description: Potter Electric Signal Company is a leading
designer and manufacturer of electronic monitoring and related accessories used
in fire protection, commercial security and industrial markets. Potter’s
customers include leading OEM’s, distributors and installers serving the fire
sprinkler, electronic fire and security and industrial control markets.
Transaction Summary: Parkway provided Subordinated Debt and
Equity in support of the acquisition of Potter by a fundless sponsor. Parkway
invested additional equity to support the acquisition of a subsidiary in the
United Kingdom.
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Salon Grafix
Auburn Hills, MI
Description: Salon Grafix is a developer and marketer of salon
quality, branded hair care products sold through drug stores, supermarkets and
mass merchants. The Company is committed to delivering innovative products
including a recently introduced dry shampoo, while providing world class
service to leading retailers across the country.
Transaction Summary: Parkway provided Subordinated Debt and
Equity in support of an equity sponsor’s acquisition of this consumer branded
business.
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Spencer N. Enterprises
City of Industry, CA
Description: Spencer Enterprises is a leading designer,
importer and distributor of decorative pillows and window treatments. The
Company's blue-chip clients include nearly all top-tier, mass merchant
retailers of home furnishings, as well as several leading department, specialty
and discount stores.
Transaction Summary: Parkway supported a fundless sponsor in
the acquisition of this rapidly growing business from its founder. Parkway
provided Subordinated Debt and a Common Equity investment.
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Thompson Industrial Services
Sumter, SC
Description: Thompson is the market leader in providing
outsourced technical cleaning services to process industry customers throughout
the southeastern U.S.
Transaction Summary: Parkway made a Subordinated Debt and
Minority Equity investment to support the acquisition of the business by a
private equity investor and management. Parkway has continued to support
Thompson as it has made two additional acquisitions.
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TS3 Technology
Franklin, TN
Description: TS3 is a manufacturer of electronic printed
circuit boards, wire harnesses and cable assemblies as well as a provider of
circuit board engineering and design services to companies in the industrial,
energy and business telecommunications markets.
Transaction Summary: Parkway invested Subordinated Debt and
Common Equity in support of the acquisition of Alpha Circuits by TS3, a private
equity owned company. Parkway continued to support TS3 as the Company acquired
a second electronics component manufacturer.
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