Calera Capital has acquired Competitor Group, a global media and event entertainment company. The deal represents Calera’s seventh investment from Fund IV.
Calera Capital, a leading middle-market private equity firm, announced today that in partnership with management, it has acquired Competitor Group, Inc. (CGI), the active lifestyle industry’s leading media and event entertainment company.
CGI operates 83 events around the world including the Rock ‘n’ Roll Marathon Series, publishes five media titles such as Competitor, Velo, Women’s Running and Triathlete, and possesses a leading digital registration platform in Raceit.com and a rapidly expanding digital community across the Competitor Endurance Sports Network of websites.
David Lorsch of Calera Capital stated, “Calera is excited to support CEO Scott Dickey and his team as they continue providing athletes with great experiences at the best event venues in the world, industry leading content, and a superior event registration platform through Raceit.com.”
James Farrell of Calera Capital added, “CGI is an outstanding business and a market leader. The company has a substantial opportunity for continued robust organic growth and we also look forward to investing behind management in developing new events and making strategic acquisitions.”
Scott Dickey, CEO of CGI said, “We are very excited about this next chapter as we partner with a great team at Calera Capital and continue our development as the market-leading active lifestyle media and entertainment company.”
CGI represents Calera’s seventh investment from Fund IV and reinforces Calera’s strength and track record of successfully partnering with existing, strong management teams. Calera Capital Managing Partner James Farrell and Managing Director David Lorsch led Calera’s investment in CGI and will join CGI’s board. Terms of the transaction were not disclosed.
About Competitor Group, Inc.
Headquartered in San Diego, Calif., Competitor Group, Inc. (CGI) is the active lifestyle industry’s leading media and event entertainment company. The aggregate CGI customer base now exceeds 7 million endurance enthusiasts and athletes. CGI’s portfolio of media assets span the full range of 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 not only for 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 83 events around the world, including the flagship Rock ‘n’ Roll Marathon Series, the Land Rover TriRock Triathlon Series, the NFL Run Series and the Muddy Buddy 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, triathlon and the world of multisport 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 entertainment properties can be found at CompetitorMediaKit.com.
About Calera Capital
Founded in 1991, Calera Capital, formerly known as Fremont Partners, is a private investment firm which has approximately $2.8 billion of capital under management. With offices in San Francisco and Boston, Calera invests across a diverse range of industries including business services, consumer and retail, financial services, healthcare, building products, and industrial manufacturing. Calera Capital makes substantial equity investments in operating companies, typically with enterprise values up to $1 billion, and seeks to build long-term sustainable value by working with management teams to implement strategic and operating initiatives. For more information, visit www.caleracapital.com.