Competitor Group, Inc. (CGI), the organizer of the Rock ‘n’ Roll
Marathon Series, the leading active lifestyle sports media and event
entertainment company, announced that Calera Capital, a middle-market
private equity firm, in partnership with CGI'’s management, has acquired
CGI from Falconhead Capital. Scott Dickey, president and chief
executive officer, and Steve Gintowt, chief operating officer and chief
financial officer, will continue to lead the company.
Formed in 2007 by Falconhead, CGI is the active lifestyle
industry’s leading media and event company dedicated to the sports of
running, cycling and triathlon. CGI operates 83 events around the world
including the Rock ‘n’ Roll Marathon Series, publishes five media titles
such as Competitor, Velo, Women’s Running and Triathlete, possesses a
leading digital registration platform in RaceIt.com and a rapidly
expanding digital community across the Competitor Endurance Sports
Network of websites.
“Five years ago we set out to build a
leading company in an industry that was highly fragmented, but well
positioned for tremendous growth,” said Falconhead Chairman David
Moross. “Competitor Group has grown dramatically during this period and
realized much of the potential we originally envisioned. This success is
due to the original strategy we developed to create the company, and
the hard work of our very talented management team and our board of
directors.”
Calera Capital Managing Partner James Farrell and
Managing Director David Lorsch led Calera’s investment in CGI and will
join CGI’s board. Lorsch is an avid endurance sport participant, having
competed in numerous triathlons and marathons, including each of the
marathon majors in the U.S.
“As a runner and triathlete who has
followed Competitor Group and studied the industry at length, I believe
strongly in the continued growth and value of active lifestyle sports in
both the U.S. and abroad,” said Lorsch. “Calera is excited to support
Scott Dickey and his team to continue providing athletes with great
experiences at the best event venues in the world, industry leading
content, and a superior event registration platform through Raceit.com.”
James
Farrell of Calera added, “CGI is an outstanding business and a market
leader. The company has a substantial opportunity for continued robust
organic growth and we also look forward to investing behind management
in developing new events and making strategic acquisitions.”
“We
are very excited about this next chapter as we partner with a great
team at Calera Capital and continue our development as the
market-leading active lifestyle media and entertainment company,” said
Dickey. “I want to personally thank David Moross, Peter Englehart and
the team at Falconhead for their collective vision and guidance over the
past five years.”
Calera Capital will be investing in CGI
through its fourth fund. Terms of the transaction were not disclosed.
Perella Weinberg Partners acted as exclusive financial advisor to
Falconhead Capital on this transaction.
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