Falconhead Capital LLC, a private equity firm specializing in growing consumer-focused businesses, sold its portfolio company Competitor Group, Inc. to Calera Capital. Financial terms of the transaction were not disclosed.
Competitor Group, headquartered in San Diego, 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.
“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. We are delighted that Peter Englehart, who was instrumental in the building and development of Competitor Group, and served as both Chairman and CEO, will return to Falconhead Capital as an Operating Partner,” said David S. Moross, chairman and CEO of Falconhead Capital.
The company's aggregate customer base now exceeds 7 million endurance enthusiasts and athletes. Its portfolio of media and event assets include Competitor.com, a robust digital community; Raceit.com, a leading 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 7 markets and the Muddy Buddy Series in 8 markets. The company also owns five publishing properties: Velo, Inside Triathlon, Triathlete, Competitor and Women's Running.
"We are pleased that our investment in Competitor Group has generated a very attractive return for all stakeholders, including Falconhead's limited partners, management and other co-investors," Moross said.
Perella Weinberg Partners acted as exclusive financial advisor to Falconhead on this transaction.