Tue, 04/12/2012 - 12:06
Falconhead Capital, a private equity firm specialising in growing consumer-focused businesses, has sold its portfolio company Competitor Group to Calera Capital.
Financial terms of the transaction have not been disclosed.
Headquartered in San Diego, Competitor Group is an endurance media and event entertainment company dedicated to promoting the sports of running, cycling and triathlon. The company was founded by Falconhead in 2007 through the simultaneous acquisition and combination of three separate endurance sport event and publishing enterprises. Under Falconhead's leadership, Competitor Group's revenue has more than tripled through strategic acquisitions and a range of other organic growth initiatives.
The company's aggregate customer base now exceeds seven million endurance enthusiasts and athletes. Its portfolio of media and event assets include Competitor.com, a digital community; Raceit.com, a digital registration platform; and more than 83 events around the world, including the flagship Rock 'n' Roll Marathon Series in 32 markets, the TriRock Triathlon Series in seven markets and the Muddy Buddy Series in eight markets. The company also owns five publishing properties: Velo, Inside Triathlon, Triathlete, Competitor and Women's Running.
David S Moross, chairman and chief executive officer of Falconhead Capital, says: "We are very proud of the development of Competitor Group and what the company has accomplished in just five years. When we established Competitor Group, we recognised an opportunity to build a leading company in a highly fragmented industry serving a fast-growing global market. We have been extremely successful, as our vision has been realised through the dramatic growth in all facets of Competitor Group's business and the exciting synergies between its media and event platforms. Competitor Group is exceptionally well positioned for continued growth under its new owners and we wish the management team led by Scott Dickey and Steve Gintowt every success in the future.”
Perella Weinberg Partners acted as exclusive financial adviser to Falconhead on this transaction.
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