Siena Lending Group LLC (“Siena”) announces the completion of a $10.0 million asset-based revolving line of credit and term loan for Southwest Spirits & Wine, LLC (“Southwest Spirits”). The facility will be used to support the company’s working capital needs and continued growth.
Southwest Spirits, based in Dallas, is the third largest distillery in Texas and is owned by private equity firm Orox Capital Management, LLC (“Orox”).The company distills, bottles, blends, and sells its own brands including Nue Vodka, Title 21 Whiskey, Calamity Gin, and Henderson Whiskey, as well as white-label brands for key business partners. The company’s spirits are sold in 37 states and two countries.
Suzanne Lovett, Director of Siena, said, “From the moment I met the partners at Orox and Southwest’s management team, I wanted to be their financial services partner. Their strategy behind the acquisition, as well as their plan to build and grow equity brands, resonated with me. I look forward to growing our relationship with Southwest and Orox.”
Mark Martinson, Managing Partner at Orox Capital, said, “Southwest Spirits has exhibited tremendous growth since our initial purchase and closing this transaction is an important milestone for the company. We are excited to partner with Siena to enhance and support our continued expansion. Their middle-market lending focus, combined with their team’s understanding of Southwest’s business model, made them an ideal financing provider.”