Entrepreneur Partners has made an investment in Northern Brewer, a retailer of home brewing and home wine making supplies.
Northern Brewer is a multichannel retailer of home brewing and home wine making supplies. The company operates three retail locations in Minneapolis, Saint Paul, and Milwaukee and operates a 36,000 square foot fulfillment center to fulfill orders sourced through its catalogs and website. Northern Brewer was founded in 1993 and has over 100 employees. The company is based in Roseville, MN (www.northernbrewer.com).
Entrepreneur Partners makes control and minority investments of $3 million to $40 million in business-to-business and business-to-consumer multi-channel direct marketers that have revenues from $10 million to $250 million and EBITDAs of $2 million or more. The partners of the firm include veteran private equity professionals, experienced operating executives and successful entrepreneurs from the direct marketing field. The firm is based in Philadelphia (www.entrepreneurpartners.com).
Golub Capital was the Sole Bookrunner and Administrative Agent on a debt facility to support the growth financing of Northern Brewer by Entrepreneur Partners.
“Golub Capital provided a compelling financing solution and exhibited a deep understanding of Northern Brewer, which provided us with the confidence they would deliver a sound execution,” said Salem Shuchman, Managing Partner at Entrepreneur Partners. “Golub Capital exceeded our high expectations for a financing partner.”
Golub offers buy-and-hold products ranging from $10 million to $75 million and includes one-loan financings, senior, 2nd lien and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates first lien loans up to $250 million. Golub Capital will hold up to $200 million per transaction. Industries of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. In addition to its New York headquarters, Golub also has offices in Atlanta and Chicago (www.golubcapital.com).
“Northern Brewer is the top retailer within the home brewing industry, and we are excited to support the company as it enters its next phase of growth. Entrepreneur Partners has proven to be a strong partner through their expertise within the direct marketing sector,” said Andy Steuerman, Head of Middle Market Lending at Golub Capital. “We are excited to partner with this exceptional senior management team and sponsor.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-6-13
