WESTPORT, Conn. — Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated funds, Balance Point Capital Partners IV, L.P., Balance Point Capital Partners V, L.P. and Balance Point Capital Partners VI, L.P., is pleased to announce its investment in Firehook Bakery of Virginia, Inc. (“Firehook,” or the “Company”), a portfolio company of Forward Consumer Partners (“Forward”), a Greenwich, CT-based private equity investment firm focused on investing in “powerful brands making powerful products”. Balance Point provided debt capital to support the acquisition of Firehook.
Firehook was founded in 1992 in Alexandria, VA as a neighborhood bakery specializing in organic sourdough breads and simply-made baked goods. The Company’s name was inspired by a tool dating back thousands of years to the first-known bakers, who used a hook-shaped implement to pull their creations out of clay pots in sunken fire pits. Fueled by its local success, Firehook expanded nationally, guided by a commitment to its team of bakers and its loyal customers.
Concurrent with the closing, Firehook is also pleased to announce that Maura Mottolese has become Firehook’s new Chief Executive Officer. Ms. Mottolese has built a distinguished career in the food and beverage industry, most notably serving as CEO of Cholula and CEO of Tate’s Bake Shop, among many other successful roles. Ms. Mottolese remarked: “It is a true privilege to join a business with such a rare combination of existing success and future opportunity. I look forward to building on the strong foundation that the previous management and founder created as we strengthen the Firehook brand, expand the Company’s capabilities and grow its loyal base of consumers.”
Balance Point partner Adam Sauerteig remarked on the transaction: “Balance Point is excited to partner with both Firehook and Forward Consumer Partners. We are excited to see the next phase of growth and happy to have crafted a bespoke credit solution to meet both Firehook and Forward’s capital needs.”
“Forward Consumer Partners is excited to have partnered with Balance Point on this transaction, and we can’t wait to see where the relationship takes us as Firehook continues to grow and expand,” said Matt Leeds, Managing Partner at Forward. “Balance Point’s unique structuring, market knowledge and flexibility were crucial to closing the transaction while providing ample room for future growth.”
About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $2.1 billion in assets under management, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.
About Firehook Bakery of Virginia, Inc.
Founded in 1992, Firehook is an artisan baking business built on an unwavering commitment to quality. Firehook is beloved for its small-batch offerings which deliver exceptional crunch, simple ingredients, and distinctive flavors. Firehook bakes all of its products in-house and is proudly Organic, Non-GMO Project Verified, Kosher, and SQF Certified.
For more information, please visit www.firehook.com.
