Veritas Financial Partners announces the closing of a $9.0 million credit facility for Free Flow Wines LLC. Veritas provided its financing in connection with a growth equity investment. Free Flow will use the recapitalization to fund the opening of a new East Coast facility together with growing its fleet of reusable stainless steel kegs and expansion of associated keg leasing, filling and logistics services.
Established in 2009 and headquartered in Napa, California, Free Flow Wines is the pioneer and industry leader of premium wine on tap, delivering the world's leading wine brands to the taps of restaurants and large venues nationwide. Free Flow owns and manages a fleet of over 125,000 kegs, providing keg leasing, filling and logistics services to wineries together with installation support for restaurant operators nationwide.
Jordan Kivelstadt, Chief Executive Officer of Free Flow, said, "Finding a debt partner who was able to understand our complex business model and support our aggressive growth was critical. The Veritas team took the time to understand our business, and then provided a very competitive and flexible financing package."
Mark Seigel, President of Veritas Financial Partners, said, "since our first meeting with Jordan and his team, their passion for building the premium wine on tap market has been obvious. We are pleased to be aligning with the clear market leader. Free Flow's solutions help restaurants and wineries serve a better and more ecological glass of wine - every time."
About Veritas Financial Partners
Veritas Financial Partners is a specialty finance firm that provides $2 - $15 million senior secured credit solutions to businesses across various industries. Veritas serves entrepreneurs and private equity sponsors by delivering the flexible, responsive capital needed to achieve their goals. As an affiliate of an investment fund with $2 billion in assets under management, Veritas benefits from a substantial long term capital base.
About Free Flow Wines
Free Flow Wines is the pioneer of premium wine on tap, delivering the world's leading wine brands to the taps of restaurants and venues nationwide. Free Flow's keg leasing, filling and logistics services have allowed the wine and hospitality industries to move to a more sustainable way of serving the freshest, best tasting glass of wine - on tap. Founded in 2009, Free Flow has more than 250 wine brands in keg, from wineries throughout the US, New Zealand, South America and Europe. Their customers' wines are offered at a variety of restaurants, premium hotels, sports and entertainment venues across the US. Free Flow Wines is located in Napa, California, and you can find them online at FreeFlowWines.com, on Twitter, Facebook, Instagram and Flickr @FreeFlowWine.