Advance has completed its acquisition of The IRONMAN Group from Wanda Sports Group. Advance is a private, family-held business that invests in a broad range of media and technology companies.
The transaction was first announced on March 26, 2020. Financial terms of the deal were not disclosed.
Orkila Capital, a growth equity firm focused on investments in the media, entertainment and consumer sectors, partnered with Advance as a co-investor in the transaction.
The IRONMAN Group is the world’s largest mass participation sports platform. Its global portfolio of events includes the flagship IRONMAN and IRONMAN 70.3 triathlons, the Rock ‘n’ Roll Marathon Series, the Epic Series of mountain biking races and the Standard Chartered Singapore Marathon.
A release from IRONMAN noted that…
‘During the global coronavirus pandemic, The IRONMAN Group has remained committed to providing athletes with lifechanging experiences. In April 2020, the company launched the IRONMAN Virtual Racing and Rock ‘n’ Roll Virtual Running series. These platforms have given over 155,000 athletes from 172 nations worldwide the ability to train with purpose, compete in events and celebrate achievements with a global community.’
In May 2020, the company unveiled Safe Return to Racing Guidelines designed to keep athletes, volunteers, staff and communities safe. The guidelines are organized around five broad principles: enhanced hygiene, screening and education, density reduction, touchpoint minimization and athlete self-reliance, and The IRONMAN Group adds that it remains committed to the resumption of in-person racing as soon as it can do so safely.
