Falconhead Capital has acquired three San Diego-based companies in the endurance sport event and publishing markets: Elite Racing Inc., La Jolla Holding Group LLC (Triathlete Magazine) and Competitor Publishing Inc. The companies will be combined to form a platform company known as Competitor Group Inc. No financial terms were disclosed.
Falconhead Capital, LLC, a private equity firm specializing in investments in sports, leisure, lifestyle, and media focused businesses, today announced that it has simultaneously acquired three separate enterprises in the endurance sport event and publishing industries and combined them to form a major new platform company, which will be known as Competitor Group, Inc. (“CGI“ or the “Company“).
At inception, CGI is the largest media and event based enterprise in the endurance sport space, with total monthly magazine circulation of approximately 500,000; marathons, triathlons, cycling and other endurance events in sixteen major cities with more than 150,000 participants; and a unique opportunity to leverage its media and event assets into a major global enterprise. Additionally, CGI boasts the preeminent new media platform in the sector.
The three acquired companies, all of which are based in San Diego, Calif., the endurance-sport capital of the world, are Elite Racing, Inc. (“Elite“); La Jolla Holding Group LLC, doing business as Triathlete Magazine (“Triathlete“); and Competitor Publishing, Inc. (“Competitor Publishing“).
As a result of the transactions, financial terms of which were not disclosed, Competitor Group, Inc. is now the largest media and event business exclusively focused on the endurance sport industry