Fifth Third Business Capital acted as sole lender and administrative agent on the funding of an $8 million senior credit facility to Troy Lee Designs.
Based in Corona, CA, Troy Lee is a designer and distributor of high-quality helmets, apparel, safety gear and accessories used in the off-road motorcycling and mountain biking industries. It was founded in 1989 by Troy Lee, a motocross and mountain biking enthusiast who has been racing and painting helmets for other motocross and biking enthusiasts since the company’s inception.
“Troy Lee Designs is an exciting company that sponsors its own motocross and mountain bike racing teams and has developed significant brand equity in addition to its traditional collateral value,” said Michael Sharkey, president of Fifth Third Business Capital. “We hope Troy Lee Designs will be the first of many financings with Spanos Barber Jesse.”
Fifth Third’s credit facility will be used to fund the company’s capital expansion and working capital needs going forward.
Troy Lee Designs is a portfolio company of Spanos Barber Jesse, a private investment firm in Walnut Creek, CA.
