Bike distributor LTP Sports lands $65M asset-based facility
What's the deal? LTP Sports Group, a wholesale distributor of bikes, parts, and accessories, has secured a $65 million asset-based lending (ABL) facility. FGI Finance and BMODealroom has a profile for this one. Try Dealroom → structured the multi-year revolver, which LTP will use to fund growth of its Norco Bikes brand in Canada and globally.
What's the endgame? The facility ties borrowing capacity to LTP's assets, giving it working capital to manage operations and expansion. For a distributor handling seasonal inventory, that flexibility can be especially useful.
Why now? Canadian bike retailers have been working through post-pandemic oversupply, discounting, and cautious dealer orders, alongside persistent pressure on parts availability and margins. An asset-based line can help a distributor absorb those swings.
The signal: Asset-based lending is proving an active tool in bicycle distribution. Days before this deal, Oxford FinanceDealroom has a profile for this one. Try Dealroom → arranged a cross-border ABL for rival distributor HLCDealroom has a profile for this one. Try Dealroom → — a sign that lenders see collateral-backed credit as the right fit for a sector still rebalancing after the pandemic boom.
Read more: abfjournal.com
Image credit: mattj
