Parkway Capital Announces Investment in Chibuzo

Parkway Capital (“Parkway”) is pleased to announce an investment in Chibuzo, LLC (“Chibuzo” or the “Company”). The transaction was led by Hemingway Capital, who partnered with Werner and Theresa Hugo to recapitalize the Company. Parkway, IBC Funds and Spring Capital Partners invested subordinated debt and equity in support of the transaction.

About Chibuzo

Founded over 25 years ago as a manufacturer of wood pallets, Chibuzo is a flexible manufacturer of custom, high-mix pallets, crates, grade stakes, mulch, shavings, and sawdust. Consisting of two operating entities, General Pallets & Crates and Southland Manufacturing, Chibuzo provides custom, high mix runs that require manufacturing flexibility, short lead times, and increased service levels. The Company is headquartered in Fort Smith, Arkansas and has a second location in Bowling Green, Kentucky.

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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 Capital 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 $500 million of capital across 70+ portfolio companies.