Operations-Focused Financial Partner to Small Businesses
Our Team
Kevin Coyne, Founder
kcoyne@canalcapital.com
Kevin formed Canal in 2005 and has over 30 years of investment and operating experience with small businesses. His career evolved from lending and leadership positions in the banking industry to forming several investment companies and partnerships.
Kevin oversees the firm’s investment activities, operations, investor relations, and strategic growth initiatives.
Kevin is a Founder of Seton Catholic School in Hudson, Ohio and has served on several community and philanthropic boards. He double-majored in Finance and Real Estate & Urban Land Economics while earning his BS from The Ohio State University.
John Staudt
jstaudt@canalcapital.com
John has deep operating experience gained from the acquisition and consolidation of numerous businesses over the past twenty-five years.
John invested in and joined Canal in 2005 and has contributed to every investment, management, and financial decision made by the firm. He has been affiliated with many other businesses over his career in ownership and senior leadership roles.
John is active on the boards of community organizations in Northeast Ohio. He earned a BS in Systems Analysis from Miami University.
Jeff Klank
jklank@canalcapital.com
Jeff joined Advantage RN, Canal’s first portfolio company, in 2006 and led all financial functions for the firm as it grew to a $104 million national healthcare staffing firm. Immediately prior to joining ARN, Jeff led Brady Ware Capital, the M&A and Consulting Practice of a leading CPA and Business Advisory firm.
Jeff has contributed to several of Canal’s portfolio companies over the years, most recently in assisting with redefining the financial role at both VSI and Micorp and recruiting their new CFOs.
He earned an MBA from the University of Dayton and his BA in Accounting and Management from Ohio Northern University. Jeff maintains his CPA license in the State of Ohio.
Partnerships
“Lakewood Capital is especially pleased to partner with Canal Holdings in connection with the acquisition of VSI International, LLC. Canal’s principals have proven transaction and operating experience that will benefit all the stakeholders of VSI, particularly as the company enters an exciting new growth period. Canal was a pleasure to work with, and I look forward to continuing our relationship on future opportunities.”
Canal Capital Partners III, LP
Canal III continues to serve the same market segment the team has been developing since 2005. Canal held a preliminary closing of $25 million in mid-2015 to allow returning institutional and family office investors the opportunity to stay in the market while Canal managed prior portfolio companies and strengthened the team’s operating capabilities.
Canal’s team now includes a former CFO of a prior successful Canal investment and several operating partners with whom the team has maintained long-term successful relationships. We’ve incorporated the cumulative experience of our partners to contribute significant operating experience and drive expected performance.
In 2019, Canal III began accepting new investors. The investment period runs through December 31, 2022.
Canal Mezzanine Partners II, LP
Canal’s second offering, a $25 million fund, continued Canal’s initial investment strategy and incorporated additional disciplines and processes learned while managing small business investments through the recession. The investment period for this fund has ended and existing portfolio company investments are being positioned for strategic exits over the near term.
Valuable operating experience has been gained, important relationships formed, and Canal’s strategy has been refined over the last fourteen years which is expected to generate of superior returns for Canal III and all future funds.
Canal Mezzanine Partners, LP
Canal Holdings launched its first fund, Canal Mezzanine Partners, LP, in 2005 as a $10 million proof-of-concept fund. The fund grew out of an early investment completed with the support of Canal’s first partner, a partner who continues to invest with Canal.
At the time, even though rates were low and bank covenants were relatively loose, adequate debt capital for companies in the lower middle-market was a sparse commodity. Canal I consisted of four Portfolio Companies and provided valuable operating experience relevant to Canal’s current strategy.
Roger Knight, Chairman of VSI