Outside acquires Headwater Equity-backed Pinkbike

Outside has acquired Squamish, British Columbia-based Pinkbike and sister brands CyclingTips and Trailforks, together a cycling media and mobile mapping technology business.

Outside has acquired Squamish, British Columbia-based Pinkbike and sister brands CyclingTips and Trailforks, together a cycling media and mobile mapping technology business. No financial terms were disclosed. Pinkbike was a portfolio company of Canadian private equity firm Headwater Equity Partners.

PRESS RELEASE

BOULDER, Colo.–(BUSINESS WIRE)–Outside, the world’s leading creator of active lifestyle content, services, events, and experiences, today announced the acquisition of Pinkbike and sister brands CyclingTips and Trailforks. The deal represents a significant expansion of Outside’s leadership position in cycling media and mobile mapping technology, and it adds an array of premium benefits and best-in-class content to Outside+, the company’s popular consumer membership.

Pinkbike is a digital and video-centric media business created in 1998 and operated by British Columbia-based mountain biking enthusiasts Radek and Karl Burkat. With more than 700 million annual pageviews, it is recognized as the global leader in mountain bike content and entertainment. Its stories, product reviews, and thriving marketplace drive more than 50% of the category’s total pageviews, and it has successfully expanded into reality TV production among other product extensions. In recent years, Pinkbike acquired CyclingTips, a rapidly growing news site for road and racing fans, and launched Trailforks, a GPS-enabled trail database with more than 300,000 mountain biking and hiking routes and 6 million users.

“This acquisition is a key moment in fulfilling our mission to build a vibrant home where active lifestyle participants will discover a wide range of content and tools to fuel their adventures. We’re very excited and honored to welcome the Burkats and their team to our family,” said Outside CEO Robin Thurston. “As a lifelong cyclist, I’m a huge fan of these brands, which are perfect complements to our own cycling titles—VeloNews, Peloton, Beta, and Bicycle Retailer—and to our recent acquisition of Gaia GPS, the dominant mobile mapping app for hikers, backpackers, and overlanders. The marriage of these businesses creates a truly comprehensive resource for all types of cyclists and outdoor adventurers.”

“Like Robin, we know that riding bikes can change lives,” said Radek Burkat. “We founded Pinkbike to show the World how amazing mountain biking is and to inspire others to get out and ride and fall in love with the sport like we had. Joining Outside gives our team an opportunity to tell stories to an even bigger audience and to collaborate with world-class journalists at the other brands and sports in our new family. We’re also thrilled to bring our Trailforks technology and community into the ecosystem that Outside is building. In partnership with Gaia, we intend to map every trail in America, and eventually the world, so that Outside+ members can ride, hike, run, and ski with greater confidence and safety.”

The core Pinkbike and Trailforks teams will continue operating out of their offices in Squamish, BC. CyclingTips will maintain its office in Australia, and its U.S.-based staff will join the larger Outside team in the company’s headquarters in Boulder. Progress Partners acted as sole financial advisor to Outside in the deal. GP Bullhound acted as sole financial advisor to Headwater Equity Partners and Pinkbike.

About Outside
Outside is the world’s leading creator of active lifestyle content and experiences. Across web, print, podcast, social, video, and TV, our brands reach 80 million of the most active and influential consumers in the world every month. Our brands include: Outside magazine, OutsideTV, Gaia GPS, athleteReg, Pinkbike, CyclingTips, Trailforks, Peloton Magazine, Yoga Journal, SKI, BACKPACKER, VeloNews, Climbing, Rock & Ice, Gym Climber, Trail Runner, Women’s Running, Triathlete, Better Nutrition, Bicycle Retailer & Industry News, Clean Eating, Fly Fishing Film Tour, IDEA Health and Fitness Association, Muscle & Performance, NASTAR, National Park Trips, NatuRx, Oxygen, PodiumRunner, Roll Massif, SNEWS, The Voice, Vegetarian Times, VeloPress, VeloSwap, Paleo Mag, Beta, FinisherPix, and Warren Miller Entertainment. Outside is headquartered in Boulder, with offices in Carbondale (CO), Denver, Easthampton (MA), Frankfurt, Melbourne (AUS), New York City, Ojai, San Diego, San Francisco, Santa Fe, Squamish (BC), and Toronto. Learn more at OutsideInc.com.

About Pinkbike
With more than 20 million unique users, Pinkbike is the world’s largest online cycling community and news source. Pinkbike is the pulse of mountain biking, delivering quality content that is independent, immediate, and accurate. Striving to take mountain biking to new heights, Pinkbike creates new fans of the sport, transforming casual enthusiasts into core riders. Learn more at Pinkbike.com.