FOR IMMEDIATE RELEASE
Advance Completes Acquisition of the Ironman Group
New York, NY / Tampa, FL (July 20, 2020) - Today Advance announced it has
completed its acquisition of The IRONMAN Group from Wanda Sports Group. The
transaction was first announced on March 26, 2020. Orkila Capital, a growth
equity firm focused on investments in the media, entertainment and consumer
sectors, partnered with Advance as a co-investor in the transaction.
The IRONMAN Group is the world's largest mass participation sports
platform. Its global portfolio of events includes the flagship IRONMAN® and
IRONMAN® 70.3® triathlons, the Rock 'n' Roll Marathon Series®, the Epic
Series® of mountain biking races and the Standard Chartered Singapore
Marathon.
During the global coronavirus pandemic, The IRONMAN Group has remained
committed to providing athletes with lifechanging experiences. In April
2020, the company launched the IRONMAN® Virtual Racing™ and Rock 'n' Roll
Virtual Running™ series. These platforms have given over 155,000 athletes
from 172 nations worldwide the ability to train with purpose, compete in
events and celebrate achievements with a global community.
In May 2020, the company unveiled Safe Return to Racing Guidelines designed
to keep athletes, volunteers, staff and communities safe. The Guidelines
are organized around five broad principles: enhanced hygiene, screening and
education, density reduction, touchpoint minimization and athlete
self-reliance, and The IRONMAN Group remains committed to the resumption of
in-person racing as soon as it can do so safely.
About The IRONMAN Group
The IRONMAN Group operates a global portfolio of events that includes the
IRONMAN® Triathlon Series, the IRONMAN® 70.3® Triathlon Series, the
IRONMAN® Virtual Racing™ (VR™) Series, 5150™ Triathlon Series, the Rock 'n'
Roll Marathon Series®, the Rock 'n' Roll Virtual Running™ Series,
IRONKIDS®, ITU World Triathlon Series, premier running events including the
Standard Chartered Singapore Marathon™ and The Sun-Herald City2Surf®
presented by Westpac, Ultra-Trail® World Tour events including Tarawera
Ultra and Ultra-Trail Australia™, mountain bike races including the Absa
Cape Epic®, road cycling events, and other multisport races. The IRONMAN
Group is the largest operator of mass participation sports in the world and
provides more than a million participants annually the benefits of
endurance sports through the company's vast offerings. Since the inception
of the iconic IRONMAN® brand and its first event in 1978, athletes have
proven that ANYTHING IS POSSIBLE® by crossing finish lines around the
world. Beginning as a single race, The IRONMAN Group has grown to become a
global sensation with hundreds of events across 55+ countries. The IRONMAN
Group is owned by Advance, a private, family-owned business. For more
information, visit www.ironman.com.
About Advance
Advance is a private, family-held business that owns and invests in
companies across media, entertainment, technology, communications,
education and other promising growth sectors. Our mission is to build the
value of our companies over the long-term by fostering growth and
innovation. Advance's portfolio includes Condé Nast, Advance Local, Stage
Entertainment, The IRONMAN Group, American City Business Journals, Leaders
Group, Turnitin, 1010data and Pop. Together these operating companies
employ more than 17,000 people in 29 countries. Advance is also among the
largest shareholders in Charter Communications, Discovery and Reddit. For
more information visit www.advance.com.
About Orkila
Orkila Capital LLC ("Orkila") was formed in 2013, by Jesse Du Bey and
Taylor Storms, to pursue proprietary and compelling growth equity
investment opportunities in the consumer, media and entertainment sectors.
Orkila invests in leading companies at the forefront of evolving market
opportunities, including Mikkeller, Recognition Media (The Webby Awards),
Antares Audio Technologies (Auto-Tune), Omnipollo and Bellator MMA.
Additionally, the Principals of Orkila co-founded Crash Line Productions
(Boston Calling Music Festival, Eaux Claires Music & Arts Festival and
others) as well as sourced and helped execute the 2008 purchase of World
Triathlon Corporation (The IRONMAN Group) on behalf of their prior firm.
With over 30 years of experience, the Principals of Orkila seek to leverage
their deep industry knowledge and relationships to focus on growth
platforms with differentiated brands, IP or content. Orkila manages
approximately $500 million of capital across three private equity funds and
several Special Purpose Vehicles. For more information visit
www.orkilacapital.com.
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