Competitor Sold to Calera Capital
Written by: Dan Empfield
Date: Thu Nov 29 2012
Calera Capital has $2.8 billion of private equity capital under management. This is a mid-sized firm relative to those brands currently in the endurance sports space. The group selling Competitor Group is Falconhead Capital which, as an example, has $500 million in funds under management, and Providence Equity Partners, owners of World Triathlon Corporation (Ironman) has $27 billion under management. Leonard Green & Partners, investors in the HITS Triathlon Series, has in excess of $10 billion under management.
The announcement of Calera Capital buying Competitor Group is the culmination of a successful cycle of acquisitions and management by Falconhead Capital. Falconhead’s acquisition of its various brands was detailed here back in December of 2007. Scott Dickey, the current CEO of Competitor Group, was brought in by Falconhead Capital to run and build the company, and engineered the sale to Calera Capital. He is expected to remain as CEO of Competitor Group.
The process is the culmination of a months-long process where dozens of companies were invited to bid on Competitor Group. One of the principals at Calera Capital is David Lorsch, himself an athlete. Indeed, his Athlinks page betrays the 42-year-old’s considerable talent—he’s no MOPer. Over the next few days Slowtwitch will interview the principals and analyze the impact of the sale on the endurance sport industry.
This CEO of Competitor Group just engineered a sale to new private equity owner Calera Capital. We asked him about his brands, what changes to expect, and where his company's going. 12.03.12
Competitor Group (Rock n Roll Marathon, VeloNews, Triathlete Mag, etc.) just got sold. The new owner is Calera Capital and we spoke to David Lorsch, its managing director and an endurance athlete. 12.03.12
The Competitor Group announced today that Inside Triathlon magazine will no longer be published and will focus these resources instead to the sister publication Triathlete and the corresponding digital outlet. 1.30.14
The sale of Triathlete and Competitor Magazines, as well as Elite Racing, owner of many of North America's largest footraces, appears imminent. Both magazines are part of a blockbuster deal that places top caliber endurance events and media under the same ownership. 12.19.07
Falconhead Capital announced the acquisition of three San Diego-based companies, confirming the story which appeared on Slowtwitch.com's front page on the 19th of December. Slowtwitch engaged in a Q&A with David Moross, Falconhead chairman and CEO, earlier today. 1.07.08