Daily News: August 18, 2017

MB Business Provides $9MM Facility for R.M.P. Athletic Locker

MB Business Capital Canada, an indirect subsidiary of MB Financial Bank, provided a new $9 million Canadian senior credit and foreign exchange facility to R.M.P. Athletic Locker.

Based in Ontario, R.M.P. Athletic is a licensed distributor of sports apparel, footwear, accessories and equipment. The company is the exclusive distributor of Umbro, Teva, Hoka One One and other brands to all retailers across Canada. The company also operated retail locations and conducts regional closeout “pop-up” sales.

MB’s credit facility will be used to support the company’s growth initiatives.

In 1977 when Mike Dyon (the “M” in R.M.P. and former Canadian marathon champion) purchased a pair of running shoes in Florida and liked them so much he and his brother Paul borrowed their mother’s station wagon, headed for the U.S. and bought $750 worth of running shoes to sell to other marathon racers in Canada. For the past 40 years, it has been the distributors of more than 30 different athletic brands in the Canadian market.

“We are extremely pleased that MB Business Capital Canada was able to provide a complete lending solution to R.M.P. Athletic. This new facility will support their growth initiatives and assist them with their seasonal working capital needs,” said Michael Sharkey, president of MB Business Capital.