MidFirst Business Credit Announces New Lending Relationship with Northern Brewer, LLC
ATLANTA – MidFirst Business Credit (MFBC) announced it has provided a $3 million working capital facility to Northern Brewer, LLC (Northern). Located in Roseville, Minnesota, Northern is an e-tailer and retailer of beer, wine and kombucha home brewing equipment and supplies. The funds were used to provide additional working capital and help facilitate further business expansion. The transaction was completed on August 26, 2020.
“We are thrilled and grateful to have the support of our new banking relationship partner,” said Murry Gunty, CEO of Blackstreet Capital Holdings, Northern Brewer’s majority shareholder. “MidFirst recognized the strength of our team and our products, both of which have thrived during this difficult period. The MidFirst loan will provide added financial strength for Northern Brewer to continue to grow and build our business going forward.”
“This facility will allow us to continue to provide our customers the best homebrewing kits and ingredients,” stated Justin Winkelman, President of Northern Brewer. Dennis Schlesner, MFBC President, added, “We are very excited to partner with Northern Brewer as they execute their future growth plans.”
Headquartered in Atlanta with offices in Chicago, Dallas, Detroit, Los Angeles, Nashville and Phoenix, MidFirst Business Credit provides customized and flexible financing solutions to growing businesses nationwide. Offering lines of credit of up to $30 million, MidFirst Business Credit provides working capital and term loan facilities for acquisitions, recapitalizations, working capital needs and turnaround situations.
MFBC is owned by MidFirst Bank, the nation’s largest privately held bank with more than $24 billion in assets. This unique structure gives MFBC the flexibility of a finance company with the financial backing and stability of a bank.
About Northern Brewer, LLC
Based in Minneapolis, MN, Northern Brewer is a manufacturer and retailer of homebrewing equipment and winemaking supplies, sold primarily online and through its Minnesota retail stores. Built in 1993 by homebrewers, for homebrewers, Northern Brewer is fueled by its passion to provide the best ingredients to its customers. For more information, visit www.northernbrewer.com.
About Blackstreet Capital Holdings, LLC
Blackstreet Capital Holdings, LLC (“BCH”) is a Bethesda, MD-based diversified holding company run by Founder and CEO Murry Gunty. BCH seeks investments in the debt and equity of lower middle market businesses, corporate orphans in out-of-favor industries and businesses undergoing some form of transition. BCH invests in a range of industries, including e-commerce, business services, manufacturing, distribution, franchisors, retail, education, sports and entertainment, and consumer finance. For more information, visit www.blackstreethold.com.