Heartwood Partners exits plastic and metal components manufacturer Parkway Products

• Stout Capital, LLC served as financial advisor to Parkway and its investors
• Parkway Products was founded in 1946
• Based in Norwalk, Connecticut, Heartwood targets manufacturers, value-added distributors, food, chemical, consumer products and business service companies

Heartwood Partners has exited its investment in Parkway Products as a result of the company’s acquisition by Clayens NP Group, a portfolio company of One Equity Partners. 

Based in Greenville, South Carolina, Parkway Products is a maker of plastic and metal components. Parkway Products was founded in 1946.

“It has been a privilege to partner with the Parkway team over the last several years and assist them in executing their strategic plan. We are all proud of working closely with the team to complete add-on acquisitions that added new process technologies, expanded attractive end markets, and added meaningful scale,” said Ed Tan, a partner at Heartwood Partners in a statement. “We look forward to watching the business continue to grow as part of Clayens. The Stout team did an excellent job preparing Parkway for sale reflecting their deep expertise in the plastics processing space and their familiarity with the business.”

Finn Dixon & Herling LLP served as legal advisor and Stout Capital, LLC served as financial advisor to Parkway and its investors.

Based in Norwalk, Connecticut, Heartwood targets manufacturers, value-added distributors, food, chemical, consumer products and business service companies. The firm currently manages over $1.7 billion.

Clayens NP Group is a French plastic resin manufacturer.