Gibraltar Business Capital (GBC) has provided a $12 million asset-based credit facility to Hayes Performance Systems, a sponsor-backed manufacturer seeking increased liquidity after facing challenges with traditional bank lending terms.
For decades, Hayes Performance Systems has been at the forefront of dry disc brake system technology for power sport vehicles, heavy equipment, and other industrial applications. The company offers bicycle components under renowned brands Hayes, Manitou, Reynolds, SUNringlé, and ProTaper. Headquartered in Mequon, Wisconsin, with operations in Germany, Taiwan, and China, the company serves the global market with its high-performance products.
The leadership of Hayes Performance Systems approached Gibraltar Business Capital to increase liquidity, optimize the supply chain, fund a vertical integration acquisition, support ongoing working capital, and pay off bank debt.
GBC structured the asset-based credit facility secured by accounts receivable, inventory, and equipment, including advances against domestic and foreign accounts receivable, to maximize the achievement of short and long-term growth objectives and operational needs.
“Gibraltar’s leadership made it clear they understood our business and its unique, fluctuating needs across our diverse business lines,” said Phil Malliet, CEO of Hayes Performance Systems. “Their willingness and ability to craft a tailored financing solution that addressed our specific needs gave us the financial flexibility to pursue our strategic objectives and enhance our market position.”
“In an industry where relationships matter deeply, we pride ourselves on working with partners to align financing solutions with each client’s needs,” said Scott Winicour, CEO of Gibraltar Business Capital. “Our experience in handling intricate transactions allows us to provide reliable and flexible capital solutions to support the goals of multiple parties.”
