Wanda Sports Group sells Ironman to Advance
The Ironman Group includes its flagship Ironman and Ironman triathlons, the Rock ‘n’ Roll Marathon Series, and the Epic Series of mountain biking races, among other events, and each year over one million international athletes participate in an Ironman Group race.
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Advance says that it is committed to the future of The Ironman Group and believes in the long-term strength of its well-recognised brands and the dedication of its athletes, communities, employees and fans. Advance is a private, family-owned business that invests in a broad range of media and technology companies.
Orkila Capital (“Orkila”) will co-invest in The Ironman Group and Jesse Du Bey, Managing Partner of Orkila, will rejoin its Board of Directors alongside Advance and Andrew Messick, President and CEO of The Ironman Group.
“Today is an important milestone for The Ironman Group. We are pleased with this partnership, which is a testament to Advance’s belief in the company,” said Andrew Messick.
“We remain confident in our future; our focus and objectives are unchanged; and we are ready to face the opportunities and challenges ahead. Together with Advance and Orkila, we will navigate through the turbulent and uncertain period in front of us and continue to deliver the exceptional experiences for which we’re known.
“I’m also thrilled to welcome Jesse Du Bey back to the Board of Directors of The Ironman Group. We thank Wanda Sports Group for its support over the past four years and are proud of what we have accomplished together. We look forward to continuing our work in China with Wanda Sports Group in the coming years.”
“We are pleased to welcome The Ironman Group to the Advance family of companies,” said Janine Shelffo, Chief Strategy and Development Officer at Advance. “The core Ironman Group values of endurance and perseverance resonate strongly at Advance, a one hundred year-old business that has differentiated itself through long-term focus and commitment. We are delighted to partner with Andrew and his executive team as they plan to resume exceptional race experiences for their passionate athletes, and to support the long-term growth of the business. We’re also pleased to join forces with Orkila and are grateful for the invaluable experience with The Ironman Group that they bring to our partnership.”
“I look forward to this new chapter with The IRONMAN Group. Since I last worked with Andrew and his team, the company has experienced significant growth in its global triathlon event footprint and has successfully expanded into new areas such as running, trail running and mountain biking,” said Jesse Du Bey, Managing Partner of Orkila. “I am thrilled that Orkila is partnering with Advance, Andrew and The Ironman Group to help build this great family of brands into the future.”
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 off-road mountain bike races in China under an exclusive license agreement.
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The transaction has no financing condition and is subject to customary regulatory approvals, with closing anticipated in the second quarter of 2020.
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