June 2024 — Parkway Capital (“Parkway”) is pleased to announce an investment in Tess Oral Health (“Tess” or the “Company”). The transaction was led by ArchStar Capital, who partnered with the management team to lead the recapitalization of the Company. Parkway invested subordinated debt and equity in support of the transaction.

Founded in 1989 and headquartered in Eau Claire, WI, Tess 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.

 

For more information, please visit https://www.tessoralhealth.com/

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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 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.

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.