Competitor Group Inc (CGI), the leading active lifestyle sports media and event entertainment company, is powering ahead with another set of acquisitions, and has confirmed a deal to acquire the Philadelphia Insurance Triathlon (PHLYTRI) and the Toyota SheROX Triathlon Series, ‘the fastest growing women’s triathlon series’ in the US, from Philadelphia Triathlon LLC.
Earlier this month, the SheROX Triathlon Series confirmed a partnership with Toyota to become the title sponsor of the leading international women’s multisport series.
Competitor Group’s acquisition of the Toyota SheROX Triathlon Series is particularly interesting as it aligns CGI closer with Life Time Fitness Inc, ‘the Healthy Way of Life Company’, which operates the Life Time Tri Series. (Toyota was added as a title sponsor of SheROX following a partnership between the SheROX Triathlon Series and Life Time Fitness in 2011, and Life Time has a strong working relationship with Toyota, notably via the Race to the Toyota Cup series of events.)
Under its new ownership at CGI, the Toyota SheROX Triathlon Series joins CGI’s newly developed global women’s endurance sports platform, currently anchored by Women’s Running magazine, the Lady Speed Stick Women’s Half Marathon Series and WomensRunning.com. The investment in the leading international women’s multisport series will also complement the nearly 50,000 female participants CGI expects to have in its women’s-only running events taking place in Europe in 2013.
“We are pleased to announce the acquisition of the Philadelphia Insurance Triathlon and the Toyota SheROX Triathlon Series,” said Philadelphia-native Steve Gintowt, Chief Operating Officer and Chief Financial Officer of CGI. “The Philly Tri represents another marquee event in CGI’s world-class triathlon portfolio and following our recent formation of a women’s endurance sports platform, the SheROX Triathlon Series establishes CGI as the unparalleled leader dedicated to female athletes spanning every sector of the endurance sports and publishing industries.”
The Philadelphia Insurance Triathlon is not only one of the most recognized triathlons in the United States, but also highly regarded as one of the premier urban triathlons on the US East Coast. The 2012 event is scheduled for Saturday and Sunday 23 and 24 June, as part of the Life Time Fitness Triathlon Series Race to the Toyota Cup.
“Having been involved with Triathlete Magazine through its sale to Competitor Group, I am thrilled to see the potential for these first-class races to be taken to a new level on an international stage,” said Alan Morrison, co-founder of Philadelphia Triathlon LLC and an original investor in Triathlete mag. “CGI’s ability to provide active lifestyle consumers and advertisers with a distinctive combination of media and event assets is not only unique and efficient, but incredibly powerful for an industry that continues to see growth around the world.”
With the announcement, CGI now owns and operates two of the largest endurance events in the Philadelphia market, home to a growing number of affluent participants in the endurance sector. The Rock ‘n’ Roll Philadelphia Half Marathon is one of the world’s most prestigious road races, annually taking place in September with a sold out field of more than 20,000 runners.
“When we looked to what organisation had the resources, vision and talent to continue building on the world class triathlon weekend our team created in Philadelphia seven years ago and also grow the SheROX Series, we recognized that CGI was the clear choice,” said Jon Reichlin co-founder of Philadelphia Triathlon LLC and the CEO of the races’ long time sponsor, Nathan Sports, based in suburban Philadelphia.
A release from Competitor Group notes that ‘the Toyota SheROX Triathlon Series will continue its partnership with Life Time Fitness Inc and also leverage CGI’s award-winning media assets including Triathlete, Inside Triathlon and Triathlete.com to engage and market the multisport lifestyle to all facets of women’s lives, from pre-race and race weekend to post race and beyond.’
The series will include eight events in 2012 and will continue to feature the unique women-focused event perks that have made SheROX popular, including the SheROX Mentor Program.
Events catered for and dedicated to the female audience are understood to be a rapidly growing segment of the endurance sport industry, fuelled largely by an influx of women participants seeking personal fulfillment with every stride taken in a running or multisport event. CGI’s global women’s platform will also leverage mobile, digital, social media, travel, training and merchandising opportunities for partners to reach the increasing number of female participants in the endurance industry.
The Philadelphia Insurance Triathlon and the Toyota SheROX Triathlon Series acquisition bolsters CGI’s recent acquisitions of the Nation’s Triathlon in Washington DC, Lake Geneva Triathlon and the Austin Triathlon, creating an industry leading portfolio of triathlon events and media. The Austin Triathlon and Lake Geneva have been rebranded as part of CGI’s expanding Land Rover TriRock Triathlon Series in 2012. The iconic Nation’s Triathlon To Benefit The Leukemia & Lymphoma Society will take place on Sunday 9 September 2012.
