Falconhead Adds Publisher
By Chris Nolter for The Deal.com
2/11/08 - New York private equity firm Falconhead Capital LLC said Monday, Feb. 11, it is folding cycling publisher Inside Communications Inc. into its Competitor Group Inc. portfolio company.
Competitor Group focuses on endurance sports such as marathons, triathalons and cycling. Acquiring Boulder, Colo.-based Inside Communications will bring two publications under its wing: VeloNews, a cycling magazine that started in the 1970s under the name Northeast Bicycle News, and Inside Triathlon, which dates to the 1980s.
Falconhead has $500 million of assets under management through two funds and targets consumer-minded businesses in sports, leisure and other niches.
The firm formed San Diego-based Competitor Group when it purchased three endurance sports companies in January. The inaugural acquisitions included race organizer Elite Racing Inc., Triathlete Magazine publisher La Jolla Holding Group LLC and Competitor Publishing Inc., which produces regional magazines and organizes races.
Competitor Group touts itself as the largest media and event company in the endurance sport marketplace, which it says attracts people in the 25- to 54-year-old demographic with household incomes in the $75,000 to $95,000 range. Pending closure of the Inside Communications deal, its publications will have a combined monthly circulation of more than 500,000 and more than 1.1 million Web visitors per month.