Wells Fargo Capital Finance acted as sole lead arranger and book runner on a $100 million senior secured credit facility to support the acquisition of Performance Bicycle by Advanced Sports.

“We are very excited to be working with another iconic brand, Wells Fargo, to provide us with the liquidity we need to run our business and build upon our own brand and business momentum,” said Patrick J. Cunnane, CEO of Advanced Sports Enterprises. “This new credit facility is a significant step forward for our company, providing us with great resources as well as greater flexibility which will assist us in continuing to enable our strategies for profitable business growth.”

The acquisition of Performance Bicycle, a specialty bicycle retailer, creates a dynamic and well-positioned bicycle business that is poised to take advantage of the new ways consumers are shopping for bikes. The new company, called Advanced Sports Enterprises, is home to 10 leading bicycle brands, including Fuji, SE, Kestrel, Breezer and Phat; retail brands Performance and Nashbar and components, parts and accessories brands Oval Concepts, Forte and Spin Doctor.