Philadelphia Insurance Triathlon strengthens Competitor Group’s strategic investment in world-class triathlon events
San Diego, CA and Philadelphia, PA – June 21, 2012 – Competitor Group, Inc. (CGI), the leading active lifestyle sports media and event entertainment company, and a portfolio company of Falconhead Capital, today announced the acquisition of the Philadelphia Insurance Triathlon and the Toyota SheROX Triathlon Series, the fastest growing women’s triathlon series in the country, from Philadelphia Triathlon, LLC.
The Toyota SheROX Triathlon Series joins the newly developed global women’s endurance sports platform, currently anchored by Women’s Running magazine, the Lady Speed Stick® Women’s Half Marathon Series and WomensRunning.com. The investment in the leading international women’s multisport series will also complement the nearly 50,000 female participants CGI expects to have in its women’s-only running events taking place in Europe in 2013.
“We are pleased to announce the acquisition of the Philadelphia Insurance Triathlon and the Toyota SheROX Triathlon Series,” said Philadelphia-native Steve Gintowt, Chief Operating Officer and Chief Financial Officer of CGI. “The Philly Tri represents another marquee event in CGI’s world-class triathlon portfolio and following our recent formation of a women’s endurance sports platform, the SheROX Triathlon Series establishes CGI as the unparalleled leader dedicated to female athletes spanning every sector of the endurance sports and publishing industries.”
The Philadelphia Insurance Triathlon is not only one of the most recognized triathlons in the United States, but also highly regarded as one of the premier urban triathlons on the east coast. The 2012 event is scheduled for Saturday and Sunday, June 23 and 24, as part of the Life Time Fitness Triathlon Series Race to the Toyota Cup.
“Having been involved with Triathlete Magazine through its sale to Competitor Group, I am thrilled to see the potential for these first-class races to be taken to a new level on an international stage,” said Alan Morrison, co-founder of Philadelphia Triathlon, LLC and an original investor in Triathlete. “CGI’s ability to provide active lifestyle consumers and advertisers with a distinctive combination of media and event assets is not only unique and efficient, but incredibly powerful for an industry that continues to see growth around the world.”
With the announcement, CGI now owns and operates two of the largest endurance events in the Philadelphia market, home to a growing number of affluent participants in the endurance sector. The Rock ‘n’ Roll Philadelphia Half Marathon is one of the world’s most prestigious road races, annually taking place in September with a sold out field of more than 20,000 runners.
“When we looked to what organization had the resources, vision and talent to continue building on the world class triathlon weekend our team created in Philadelphia seven years ago and also grow the SheROX Series, we recognized that CGI was the clear choice,” said Jon Reichlin co-founder of Philadelphia Triathlon, LLC and the CEO of the races’ long time sponsor, Nathan Sports, based in Suburban Philadelphia.
The Toyota SheROX Triathlon Series will continue its partnership with Life Time Fitness, Inc. and also leverage CGI’s award-winning media assets including Triathlete, Inside Triathlonand Triathlete.com to engage and market the multisport lifestyle to all facets of women’s lives, from pre-race and race weekend to post race and beyond. The series will include eight events in 2012 and continue to feature the unique women-focused event perks which have made SheROX popular, including the SheROX Mentor Program.
Events catered and dedicated to the female audience are a rapidly growing segment of the endurance industry, fueled largely by an influx of women participants seeking personal fulfillment with every stride taken in a running or multisport event. CGI’s global women’s platform will also leverage mobile, digital, social media, travel, training and merchandising opportunities for partners to reach the vast number of female participants in the endurance industry.
The Philadelphia Insurance Triathlon and the Toyota SheROX Triathlon Series acquisition bolsters CGI’s recent acquisitions of the Nation’s Triathlon in Washington D.C., Lake Geneva Triathlon and the Austin Triathlon, creating an industry leading portfolio of triathlon events and media. The Austin Triathlon and Lake Geneva have been rebranded as part of CGI’s expanding Land Rover TriRock Triathlon Series in 2012. The Nation’s Triathlon To Benefit The Leukemia & Lymphoma Society will take place on Sunday, September 9, 2012.
Further information about CGI and its event properties can be found at Competitormediakit.com.
About Competitor Group
Headquartered in San Diego, Calif., Competitor Group, Inc. (CGI) is the active lifestyle industry’s leading media and event entertainment company. CGI is a portfolio company of the investment firm Falconhead Capital, which specializes in growing companies in the consumer sector of the leisure and lifestyle space. The aggregate CGI customer base now exceeds 7 million endurance enthusiasts and athletes. CGI’s portfolio of media assets dominate the expanding endurance industry and include a robust digital community on the web and on mobile across the Competitor Endurance Sports Network of websites. Additionally, Raceit.com, a leading digital registration platform, is the catalyst for the company’s race services offering that looks to meet the needs for not only the company’s owned and operated events, but also for endurance events of all sizes on behalf of the entire industry. With a leading market share of endurance enthusiasts, CGI owns and operates more than 71 events around the world, including the flagship Rock ‘n’ Roll Marathon Series in 29 markets, the Land Rover TriRock Triathlon Series in 7 markets, the Columbia Muddy Buddy Series in 8 markets, the Lady Speed Stick® Women’s Half Marathon Series in 5 markets and the Toyota SheROX Triathlon Series, collectively delivering more than 600,000 professional and amateur participants in 2012. Anchoring the company with rich content and marketing leverage are five publishing properties dedicated to running, cycling and triathlon including Velo, Inside Triathlon, Triathlete, Women’s Running and Competitor with a combined monthly circulation of over 700,000. Further information about CGI and its digital, publishing and event properties can be found at Competitormediakit.com.
About Philadelphia Triathlon, LLC
Philadelphia Triathlon, LLC is a leading multi-sport race production and management company. Led by CEO Richard Adler, Philadelphia Triathlon created and produced the highly-regarded Philadelphia Insurance Triathlon — named a top triathlon in the U.S. by Outside Magazine and Inside Triathlon Magazine and the Toyota SheROX Triathlon Series — the fastest growing women’s triathlon series in the country. Philadelphia Triathlon owns and produces Ironman 70.3 Pocono Mountains — one of the newest Ironman 70.3 races in the global Ironman Series. Known for producing high quality races, Philadelphia Triathlon, LLC also provides management and race operation services for additional endurance sporting events. For more information, please visit PhillyTri.com.
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