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BMO’s Asset-Based Lending Provides ABL Revolver Facility to Support MiddleGround Capital’s Acquisition of HLC

October 13, 2022, 07:40 AM
Filed Under: Distribution

BMO closed as Sole Lender on a senior secured credit facility in support of MiddleGround Capital’s acquisition of HLC, Inc. The ABL facility refinanced the Companies’ existing credit facilities, partially financed the acquisition, and will provide working capital financing to the company.  With operations in both Canada and the United States, BMO’s cross-border Asset Based Lending team provided a seamless “One Bank” financing solution to the company.
 
HLC, Inc., is a leading distributor of bicycle parts and accessories.  Headquartered in Lévis, Quebec and Lexington, South Carolina, HLC honors the rich heritage of both the Hawley and Lambert families. The company, which was founded over 75 years ago, is considered a critical distribution partner to well established and start-up brands, providing unparalleled post-sales service. HLC distributes more than 170 leading brands in the cycling world including SRAM, Shimano, Garmin, ABUS, RockShox, Kuat, Tacx and Muc-Off. HLC also has a portfolio of best-in-class owned brands including Evo, WheelShop, PWR bikes and Eclypse.
 







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