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Advanced Sports Enterprises

Background

Hilco Streambank was retained by Advanced Sports Enterprises as the company’s intellectual property consultant with respect to its interests in its brands and trademarks, domain names, customer data and other intangible assets and associated physical archival materials supporting the intangible assets. We worked closely with the company, a chapter 11 debtor, as well as its professionals including the investment bank retained to market and sell the company.

Advanced Sports offers a broad range of innovative and desirable bicycle brands, with a strong wholesale and brand management division, complemented by an e-commerce platform (operated through performancebike.com and bikenashbar.com) and more than 100 retail stores. Its brands include Fuji, SE Bikes, Kestrel, Roubaix, Breezer and Tuesday bicycles, as well as Oval Concepts accessories.

The Process

We reached out to approximately 130 additional potential buyers not previously solicited by the company. We also worked closely with the consumer privacy ombudsman appointed in the company’s bankruptcy case to address questions concerning the company’s collection of consumer data, including personally identifiable information (PII), and the anticipated sale thereof. We managed the strategy for delivery of PII to potential buyers and worked with potential buyers to respond to questions regarding that strategy.

Outcome

Hilco Streambank ran an auction for substantially all of the company’s assets, including the intellectual property, which included review of approximately 15 qualified bids. One of our professionals also testified at numerous hearings, including in support of the sale and with respect to the company’s rejection of a trademark license agreement. We assisted in closing a sale of substantially all of the company’s assets, including the intellectual property, to a consortium of bidders valued at $23.018 million.


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