BMO’s Asset-Based Lending Group Served as Sole Lender on a Cross-Border Senior Secured ABL Revolver Facility to Support MiddleGround Capital’s Acquisition of HLC, Inc.

BMO, a leading provider of asset-based finance solutions, 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.

About HLC, Inc.

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.

About BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.07 trillion as of July 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.