MiddleGround Capital, a private equity firm, completed the acquisition of HLC, a distributor of bicycle parts and accessories. Financial terms were not disclosed. “We’re thrilled to invest in and support the growth of a clear North American market leader within the bicycle parts and accessories distribution industry, which has proven to be a promising space given recent tailwinds. As the mobility industry develops, bicycles will play an important role in the transformation of the industry. HLC is uniquely positioned serving a broad and fragmented customer base with value added distribution capabilities,” John Stewart, MiddleGround Founding Partner.