North Castle Partners, a private equity firm, has acquired controlling interest in Performance, Inc., one of the largest on-line and brick & mortar bicycle retailers in the country. Terms of the transaction were not disclosed, but deals in this sector typically call for roughly 1X sales, or 12X EBITDA. SGB’s Retail Top 100 estimated Performance Inc.’s 2006 revenues at roughly $216 million. Garry Snook, CEO and co-founder of Performance Bicycle, has maintained “a significant portion” of his investment in the company. Snook and other members of senior management will continue in their current positions.