PITTSBURGH - November 28, 2018 - (Newswire.com)
SteelBridge Consulting announced today a new strategic growth initiative with local business staple 5 Generation Bakers, and new, up-and-coming Pittsburgh company, Honeycomb Credit. This announcement represents an exciting partnership between three Pittsburgh-bred companies and families. The partnership represents what the fabric of Pittsburgh is all about, where local successful businesses work together to create further success and greater opportunity for the local community.
SteelBridge Consulting’s Portfolio Company Services (PCS) business practice will assist 5 Generation Bakers in developing and implementing a national growth strategy for expansion into new national markets by improving manufacturing processes and operations, as well as optimizing production flow and diversification of product offerings. If successful, the growth strategy will allow 5 Generation Bakers to add staff in their McKees Rocks bakery.
5 Generation Bakers has also been in collaboration with SteelBridge Laboratories, the FinTech software Venture Capital business practice of SteelBridge. The collaboration has come by way of Honeycomb Credit, the newest SteelBridge Labs portfolio company. Honeycomb Credit is a Pittsburgh-based crowdfunding platform which is the first federally-approved crowdfunding platform to allow locally-owned businesses to borrow growth capital from their own loyal customers. Honeycomb Credit just helped 5 Generation Bakers complete a highly successful fundraising campaign that raised 132 percent of its fundraising goal. The capital will be used to fund R&D of a sandwich bread, allowing 5 Generation Bakers to break into mainstream markets, building on the hyper-successful growth of their niche product, Jenny Lee Swirl Bread.
Scott Baker, president of 5 Generation Bakers states, “SteelBridge is providing a new perspective on our business operations and the financial impact of the decisions we are making, to allow for future growth. We are working closely with SteelBridge to operate and navigate through this exciting and critical growth period. I take comfort in knowing my vision is being enhanced, validated, and supported by the talented and experienced partners at SteelBridge.”
SteelBridge PCS Principal, Jessica Allison says, “We are excited to be working closely with local legend 5 Generation Bakers in defining their growth journey. We are even more pleased to connect 5 Generation Bakers with one of the local portfolio companies, Honeycomb Credit, to unlock real capital to help 5 Generation Bakers execute on the growth plans we are building. This is an exciting story for Pittsburgh and for helping this well-respected local company continue to thrive and grow their brand into a national contender.”
SteelBridge is a boutique Private Capital advisory services firm and Venture Capital investment firm. Our mission is to help our clients and our portfolio companies successfully execute on their strategic, financial, and operational objectives to grow their organizations.
5 Generation Bakers is the Pittsburgh-based, family-owned and -operated company behind the coveted Jenny Lee Cinnamon Swirl Bread that has been a staple in the homes of Pittsburgh residents for decades. The Baker family, Pittsburgh natives, opened the doors to the first bakery in the family’s lineage in 1875, and since that day have been dedicated to giving back to the greater Pittsburgh communities. Scott and 5 Generation Bakers continue to enhance the lives of local residents with high-quality, non-GMO baked goods, community service outreach initiatives, including a scholarship fund for higher education, and a family-oriented company atmosphere. Scott was a finalist for Entrepreneur of the Year in 2017, and his company was named as one of the Inc 5000 Fastest Growing Private Companies in America 3 years in a row.
For more information on SteelBridge Consulting, please visit: http://steelbridgeconsulting.com
For more information on 5 Generation Bakers, please visit: https://jennyleeswirlbread.com
For more information on Honeycomb Credit, please visit: https://www.honeycombcredit.com
For more information on SteelBridge Labs, please visit: http://steelbridgelabs.com
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Original Source: Raising Some Dough - Historic Pittsburgh Bakery Consults With Pittsburgh Advisory Company, SteelBridge, for Help With National Expansion
