Fort Capital Partners is pleased to announce that LTP Sports Group and its flagship brand Norco Bikes have secured a $65 million, multi-year, asset-based lending (ABL) facility from FGI Finance. The new ABL facility provides enhanced liquidity and financial flexibility to support the Company’s ongoing operations and future growth initiatives.
LTP Sports is a leading Canadian distributor and brand owner in the cycling and sporting goods market, with Norco Bikes representing one of the most established and recognized bicycle brands in North America. Together, they offer a broad portfolio of bicycles and cycling-related products across mountain, road, gravel, electric, and lifestyle categories, supported by a strong dealer network and long-standing brand equity.
LTP and Norco Bikes share a history rooted in British Columbia, evolving from Northern Cycle Industries in 1964, and remain committed to innovation, community, and connecting riders with great bikes.
Fort Capital Partners acted as credit advisor to LTP Sports Group and Norco Bikes.