North Castle buys bike interest

North Castle Partners acquired a controlling interest in Performance Inc., the largest independent bicycle dealer in the United States.
The Chapel Hill, N.C., company operates 75 retail stores and has plans to open 90 more during the next four years.
Greenwich-based North Castle did not specify details on what it paid. The GE Antares Capital division of General Electric Co. indicated it served as administrative agent for a $60 million credit facility supporting the acquisition and working capital.
North Castle focuses its investments on companies that sell products and services associated with healthy living.