Crescentia Capital, the equity buyout unit of Calvert Street Investment Partners, has announced a strategic growth investment in C&D Industrial Maintenance, a provider of commercial door and loading dock services across the Southeast. The investment is expected to fuel organic growth initiatives and strategic acquisitions, as C&D builds the region’s leading door and dock services platform, according to a press release.
Founded in 2018, C&D Industrial Maintenance serves customers in Florida, Georgia, Tennessee, Alabama, Mississippi, Arkansas, North Carolina and South Carolina. The company, based in Bradenton, Fla., offers a range of services including installation, repair, and maintenance of commercial doors and loading dock equipment. This investment from Crescentia Capital will enable C&D to expand its footprint and enhance service offerings through both organic growth and acquisitions.
The transaction was supported by Current Capital Partners, which acted as financial advisor to Crescentia Capital. Petra Capital Partners provided financing in support of the transaction. Legal counsel for Crescentia Capital was provided by Stevens & Lee and Willkie Farr & Gallagher.
Crescentia Capital, headquartered in Towson, Md., currently holds a portfolio of nine companies, including All Clear, D2K and Terra Nova. The firm is led by partners Michael Booth, chief investment officer and former Ernst & Young executive, and Brian Guerin, managing partner. Both are members of Calvert Street’s Executive Leadership Committee. Guerin joined the firm in 2005 after specializing in M&A transactions between private equity firms and middle market companies while serving in the Corporate Finance and Due Diligence groups at Ernst & Young.
Calvert Street Investment Partners, which also has offices in Newton, Mass., operates two units: Parkway Capital, which provides flexible junior capital solutions to lower-middle market companies, and Crescentia Capital. Parkway Capital makes mezzanine debt and minority equity investments of between $3 million and $12 million per transaction, typically investing in companies with $10 million in annual revenue and $2 million of EBITDA. Since its inception, Parkway Capital has invested over $500 million in a portfolio of over 70 companies spanning manufacturing, distribution, consumer products, business and industrial services, and healthcare.
As of June, Calvert Street had invested over $1.1 billion — about $615 million in equity buyout investments and about $525 million in mezzanine and minority equity investments — backing over 145 middle-market companies. This investment in C&D Industrial Maintenance underscores Calvert Street’s commitment to supporting growth in the industrial services sector.
