Competitor Group Inc., one of the most recognizable brands in endurance sports, was formally purchased on Monday by Calera Capital, a private equity company.
Competitor was founded in 2007 and run by Falconhead Capital, another investment firm. The company owns a group of running, cycling and triathlon related properties, including the Rock ‘N’ Roll race series. Rock ‘N’ Roll broke into the Canadian market last year after purchasing the Montreal Marathon, which was rebranded and run under its moniker last fall.
Rock ‘N’ Roll events are distinguishable by their heavy use of live music along the course and festival-like post-race atmosphere. There are currently 32 such events across North America.
It appears the recent boom in both the running world and in other endurance sports such as the triathlon have made Competitor Group’ stakeholders a nice profit. “We are pleased that our investment in Competitor Group has generated a very attractive return for all stakeholders, including Falconhead’s limited partners, management and other co-investors,” said Falconhead Capital CEO David Moross.
Calera Capital is piloted by managing director David Lorsh, who himself is an avid endurance athlete, having competed in both Boston and the New York City Marathon. “As a runner and triathlete who has followed Competitor Group and studied the industry at length, I believe strongly in the continued growth and value of active lifestyle sports in both the U.S. and abroad,” Lorsch said after the deal was completed.
Details of the sale have not been publicly disclosed at this time.