MidFirst Business Credit provided a $3 million working capital facility to Northern Brewer, which used the funds to provide additional working capital and to help facilitate further business expansion. The transaction was completed on Aug. 26, 2020.
“We are thrilled and grateful to have the support of our new banking relationship partner,” Murry Gunty, CEO of Blackstreet Capital Holdings, Northern Brewer’s majority shareholder, said. “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,” Justin Winkelman, president of Northern Brewer, said.
“We are very excited to partner with Northern Brewer as they execute their future growth plans,” Dennis Schlesner, president of MidFirst Business Credit, said.
Located in Roseville, MN, Northern Brewer is an e-tailer and retailer of beer, wine and kombucha home brewing equipment and supplies.
MidFirst Business Credit offers lines of credit of up to $30 million, MidFirst Business Credit also provides working capital and term loan facilities for acquisitions, recapitalizations, working capital needs and turnaround situations.
