M&A Deal Summary

Advanced Sports International Acquires Performance Bicycle

On August 17, 2016, Advanced Sports International acquired retailer Performance Bicycle from North Castle Partners and York Street Capital Partners

Acquisition Highlights
  • This is Advanced Sports International’s 1st transaction in the Retail sector.
  • This is Advanced Sports International’s 1st transaction in the United States.
  • This is Advanced Sports International’s 1st transaction in California.

M&A Deal Summary

Date 2016-08-17
Target Performance Bicycle
Sector Retail
Buyer(s) Advanced Sports International
Sellers(s) North Castle Partners
York Street Capital Partners
Deal Type Add-on Acquisition

Target

Performance Bicycle

Chico, California, United States
Performance Bicycle is an independent bicycle dealer and direct marketer of bicycles and cycling accessories in the United States. Performance Bicycle is based in Chico, California.

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Buyer(S) 1

Buyer

Advanced Sports International

Philadelphia, Pennsylvania, United States

Category Company
Founded 1998
Sector Consumer Products
DESCRIPTION

Advanced Sports International is an American bicycle company whose flagship brand is Fuji Bikes. It also owns smaller brands including triathlon-focused Kestrel USA, component maker Oval Concepts, Breezer bikes, Tuesday Cycles and BMX maker SE Bikes. Advanced Sports International was founded in 1998 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 1 of 1
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1

Seller(S) 2

SELLER

North Castle Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Focused
DESCRIPTION

North Castle Partners is a specialist private equity firm that targets investments in consumer-driven product and service businesses. North Castle seeks control investments in companies that benefit from consumers looking to live 'healthier' lives as well as businesses that benefit from the baby boomer population. Specific areas of interest include aesthetics and personal care, consumer health, fitness and recreation, home and leisure, and nutrition. North Castle was formed in 1997 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 18 of 25
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 12 of 15
State: California M&A 5 of 8
Country: United States M&A 16 of 23
Year: 2016 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-15 Doctor s Best

San Clemente, California, United States

Founded in 1990 by supplement industry veteran Ken Halvorsrude, San Clemente-based Doctor's Best, Inc., manufactures and distributes dietary supplements throughout the U.S. and internationally. Doctor's Best is known for a broad line of premium products that are scientifically based on sound research and manufactured utilizing proven quality ingredients.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-07 SLT

New York, New York, United States

SLT is a premier boutique fitness studio operator offering 50-minute workouts combining low-impact Pilates movements with intense cardio and strength training exercises designed to “Strengthen”, “Lengthen” and “Tone”. SLT is based in New York.

Buy -
SELLER

York Street Capital Partners

Bedminster, New Jersey, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 559M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

York Street Capital Partners is an investment firm focused on providing mezzanine and equity capital to private equity sponsors. York Street looks to fund acquisitions, buyouts, growth capital, and recapitalizations of middle-market companies. Target sectors include consumer products and services, business services, manufacturing and industrial, aerospace, retail, restaurants, healthcare, transportation and logistics, food, and agriculture. York Street Capital Partners was formed in 2002 and is based in Bedminster, New Jersey.


DEAL STATS #
Overall 14 of 17
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 7 of 7
State: California M&A 5 of 5
Country: United States M&A 12 of 15
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-03 International Fitness Holdings

Calgary, Alberta, Canada

International Fitness Holdings is a health club operator offering a variety of health-related services including flexible gym membership options, dynamic group exercise classes, personal training, and athletic therapy. International Fitness Holdings is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 Lexington Home Brands

Thomasville, North Carolina, United States

Lexington Home Brands is a manufacturer and marketer of residential and contract furnishings and a recognized industry leader in innovative design and lifestyle marketing. The company’s product line encompasses a broad range of medium and upper-end casegoods and upholstered furniture, with highly recognized brand names that include Lexington(r), Tommy Bahama Home(r), Tommy Bahama Outdoor Living(r), Sligh(r), and Henry Link Trading Co.(r) Products are distributed through home furnishings retailers, independent design professionals, design firms, and to-the-trade showrooms. The Company was formed in 1903 and is based in Thomasville, North Carolina.

Sell -