Firmament makes debt investment in hydration drink mix manufacturer

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The Firmament Group’s Lisa Moraglia guides her firm’s investment in a manufacturer of powdered, hydration drink mixes. Firmament made a debt investment in Cortland, Ohio-based Ultima Health Products, Inc. in partnership with WM Partners. The amount was not disclosed.

Ultima’s mixes – which provide electrolyte replenishment – are sold direct-to-consumer through Amazon, Whole Foods and various retailers and e-tailers. In a statement, Lisa said Ultima fits with Firmament’s “keen interest in the health and wellness industry.”

Earlier this year, Lisa, a firm principal, led Firmament into Citrus Extracts, LLC, a supplier of citrus peel. Lisa’s investments also include Fortbrand Services, which sells, leases and rents aircraft ground support equipment and airfield maintenance equipment. She was previously a principal at Small Business Community Capital and a vice president at Ares Management, LLC.

Firmament provides tailored debt and equity capital solutions to small- and medium-sized enterprises.

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