Falconhead adds to endurance sports platform

The sports-oriented firm continues of a flurry of investment activity surrounding endurance sports with an agreement to acquire Inside Communications.

Inside Communications (ICI), a publisher of numerous competitive cycling and triathlon titles, will be acquired by Falconhead Capital to be incorporated into the private equity firm’s recently formed Competitor Group (CGI). Financial details were not disclosed.

This investment is Falconhead’s fourth endurance-sports deal in just over a month. On 7 January, the firm announced the acquisitions of three endurance-sports companies participating in publishing, event-planning, and other related activities.

Triathlete
Magazine

The three companies, Triathlete Magazine, racing-events organizer Elite Running and Competitor Publishing, were then combined to form CGI, an endurance sports media and event platform.

The ICI acquisition expands the breadth of CGI’s endurance sport offerings, adding substantial competitive cycling presence to the CGI’s largely marathon and triathlon related resources.

Thomas O'Connor, managing director with media investment bank Berkery Noyes said in a prior statement that “Falconhead Capital appears to be the first investor to make a buy-and-build play in endurance sports, which [chairman and chief executive David] Moross estimates is a $1.3 billion industry with a demographic that advertisers long for: 25-to-54 year olds with an average household income of $75,000 to $95,000 a year”.

Falconhead has offices in New York and San Diego. It was founded in 1998 and was originally named Sports Capital Partners with a focus on “sports and related business.” The company has since expanded into the leisure, lifestyle and media sectors. Current assets under management are approximately $500 million.