Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Ss Brewtech, Inc. (“Ss Brewtech”), a leading brand in home and professional craft brewing equipment, in its acquisition by The Middleby Corporation (NASDAQ: MIDD), a global leader in the foodservice equipment industry. Ss Brewtech will operate as an autonomous business unit within Middleby.
Founded in Southern California in 2013 by Mitch Thomson and Curt Kucera, Ss Brewtech has rapidly grown to become a global leader in stainless steel (Ss) homebrewing gear, and in the span of only a few years has become a major disruptor in the small-scale professional craft brewing equipment industry (1 bbl to 20 bbl systems). As one of the first suppliers to offer homebrewers premium, branded professional-grade equipment, Ss Brewtech rapidly grew in popularity and is now one of the most sought-after equipment brands in homebrewing.
Ss Brewtech’s professional equipment line was launched in 2016 and has developed an equally outstanding reputation for quality and performance, and touts an impressive customer list of some of the nation’s most prestigious craft breweries, including Trillium, Dogfish Head, Rogue and Russian River. The company plans to expand its product offerings to several adjacent craft beverage markets, including a kombucha brewing equipment product line to target the rapidly growing segment. Ss Brewtech’s portfolio of innovative, best-in-class products can be found on the company’s website, www.ssbrewtech.com.
“Ss Brewtech has built a very innovative, brand-driven craft beverage equipment platform, with a leading digital presence, and is poised to accelerate growth with the additional resources and global reach of the Middleby network,” noted Nicole Nugent Fry, Cascadia Capital Managing Director. “It was a pleasure working with Mitch, Curt and the Ss Brewtech team on this important milestone for the business and we look forward to following their continued success in partnership with their new owners at The Middleby Corporation.”
Regarding the transaction, Mitch Thomson, Co-founder and CEO of Ss Brewtech stated, “The Cascadia team did such a great job of understanding our objectives and goals, and spending time with us before we even started our process to think about the big picture and macro perspective of what it means to look for strategic partners to help grow our business and our brand.”
Thomson added, “Once we got into the process, they rolled up their sleeves and worked closely with us on the deck build out, management presentation materials, financial schedules, and all that ‘stuff’ high growth companies struggle to find time and energy to deal with. In the end it’s really all about results isn’t it? And where we landed, and the partner they helped us find – we couldn’t be happier with the outcome.”
This transaction represents another successful transaction for the Cascadia Consumer & Retail team and expands upon Cascadia’s track record as one of the leading advisory firms focused on the beverage industry.
For more information about this transaction, please contact the Cascadia Capital deal team:
Nicole Nugent Fry