Earlier this year – and after lively discussions between Cerberus Capital Management, Dorel Industries and its shareholders – the Canadian conglomerate pulled out of a previously planned going-private transaction. With shareholders clearly expressing confidence in Dorel’s future and its greater potential for Dorel as a public company, the group has now announced that “it and several of its subsidiaries have entered into a new $450 million (€371m) senior secured asset based revolving financing with institutional lenders led by Bank of Montreal as lead arranger, administrative agent and sole bookrunner.” The new credit facility, which is guaranteed by some of Dorel’s subsidiaries, was completed on June 14. It has a term of two years from the date of the initial advance and can be extended for additional one-year terms with the consent of the lenders. The announcement came about a month after the parent company of Cannondale, Schwinn and other bicycle brands reported strong results for the first quarter of 2021.