Advance (www.advance.com) will be the new owners of The IRONMAN Group, the purchase being a cash transaction from Wanda Sports Group valued at 730 million.
Advance announced today that it has signed a definitive agreement for the purchase of shares with Wanda Sports Group Company Limited (NASDAQ: WSG) with the intention of acquiring The IRONMAN Group
Advance is a private, family-owned company that invests in a wide range of media and technology companies.
Advance To Acquire The IRONMAN Group - Message from The IRONMAN Group President & CEO Andrew Messick to our Community. pic.twitter.com/GlYnqYCGrS
- IRONMAN Triathlon (@IRONMANTR) March 26, 2020
The IRONMAN group, the sports platform with the most participation in the world
The IRONMAN Group and its asset portfolio, which includes its iconic IRONMAN® and IRONMAN®70.3® triathlons, the Rock 'n' Roll Marathon Series® and the Epic Series® of mountain bike racing, among other events, make up the most large sports platform for mass participation in the world.
It started in 1978 with Hawaii and now has more than 235 events worldwide
Since a single career at O'ahu, Hawai`i in 1978, The IRONMAN Group has owned, organized, promoted and licensed endurance events for more than 40 years, now consisting of more than 235 events in more than 50 countries, throughout triathlon, running, trail running, cycling and mountain biking. Every year, more than a million international athletes participate in an IRONMAN Group race.
Wanda Sports Group will continue to operate IRONMAN tests
As part of the transaction, Wanda Sports Group will continue to operate the IRONMAN® and IRONMAN®70.3® triathlon series, Rock 'n' Roll Marathon Series® and Epic Series® of mountain bike racing in China under an exclusive license agreement.
Orkila Capital (“Orkila”) will be the co-investor in The IRONMAN Group. Jesse Du Bey, Managing Partner of Orkila, will join its Board of Directors along with Advance and Andrew Messick, President and CEO of The IRONMAN Group.
Orkila is a growth capital firm focused on investments in the media, entertainment and consumer sectors.