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Calvert Street Capital Partners, Inc. (CSCP) was founded in 1995 by Josh Hall, Brian Mahoney and Legg Mason, Inc., and was formerly known as Legg Mason Merchant Banking, Inc. The firm manages $1,200,000,000 of private investment funds dedicated to serving the capital needs of lower middle market manufacturing and service companies. The firm does not invest in early-stage companies, real estate, highly regulated businesses or companies with rapidly changing technology. The firm currently manages four funds: CSCP I, CSCP II, CSCP III, and Legg Mason Meazzanine Fund L.P., (LMMF). CSCP makes stand-alone 'Platform' company acquisitions of businesses with annual revenues of at least $15 million, and with annual operating profits between $5 million and $10 million. CSCP invests in companies with EBITDA of $3 million to $15 million. CSCP's investment size starts at $15 million, and the firm invests in companies located throughout the U.S. and Canada. Since inception, the firm has acquired more than 40 companies in a wide variety of industries. Parkway Capital is the mezzanine credit affiliate of Calvert Street. The Parkway Capital investment team focuses on making mezzanine debt and minority equity investments in lower middle market companies. Parkway's investment size is $3 million to $12 million per transaction and the companies we support have revenues of at least $10 million and EBITDA of at least $2 million. Since 2000, Parkway Capital has provided flexible junior capital alternatives. The Principals of Parkway Capital joined forces with the team at Calvert Street in 2019.
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