Advance Completes Acquisition of The IRONMAN Group
July 20, 2020
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.
The IRONMAN Group
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.
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.
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.