Oxford Finance LLC (“Oxford”), a leading specialty finance firm, today announced the closing of a cross-border asset-based lending revolving credit facility for HLC, one of North America’s leading bicycle distributors, in partnership with MiddleGround Capital. Oxford served as agent and sole lender on the transaction.

The facility leverages HLC’s asset base and provides capital to support the company’s ongoing growth and business objectives. The transaction reflects the ability of asset-based lending solutions to support companies operating across multiple jurisdictions.

HLC is one of North America’s leading bicycle distributors, serving independent bicycle retailers throughout the United States and Canada. The company offers an extensive portfolio of bicycles, components, accessories, apparel, and service solutions from many of the industry’s most respected brands.

“We’re pleased to partner with HLC and MiddleGround Capital on this transaction,” said Nick McDearis, Managing Director at Oxford Finance. “This transaction highlights the flexibility of asset-based lending for companies operating across multiple jurisdictions. By leveraging HLC’s asset base, we were able to provide a financing solution that supports the company’s ongoing growth and business objectives while supporting MiddleGround Capital’s investment in the business. We look forward to working with HLC in the years ahead.”

“The Oxford team provided an attractive financing solution and was great to work with through the closing,” said Julie Sekinger, Vice President, Capital Markets, at MiddleGround Capital. “We look forward to partnering with a new lender that will support HLC through its next stage of growth.”

Oxford’s Asset-Based Lending division provides financing solutions to sponsor-backed and non-sponsored companies across a range of industries. The group works with management teams and financial sponsors to structure lending facilities supporting a variety of financing needs.

About Oxford Finance LLC

Oxford Finance LLC is a specialty finance firm providing senior secured loans to public and private companies operating in a variety of industries worldwide. For more than 20 years, Oxford has delivered financing solutions to over 750 companies. Since 2002, Oxford has originated more than $18 billion in loans. Oxford is headquartered in Alexandria, Virginia, with additional offices serving the greater San Diego, San Francisco, Atlanta, and New York metropolitan areas. For additional info, visit oxfordfinance.com.

About MiddleGround Capital

MiddleGround Capital is a private equity firm based in Lexington, Kentucky with over $4.1 billion of assets under management. MiddleGround makes control equity investments in middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. For more information, visit www.middleground.com.

Specific investments described herein are for illustrative purposes only and do not represent all investment decisions made by MiddleGround Capital.

This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product.

For more information, review MiddleGround Capital’s Form ADV Part 2A.

About HLC

HLC is one of North America’s leading bicycle distributors, providing independent bicycle retailers with an extensive selection of bicycles, components, accessories, apparel, and service solutions from many of the industry’s most respected brands. With decades of experience serving the cycling industry, HLC is committed to helping dealers grow through exceptional service, product expertise, and reliable distribution across the United States and Canada.

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