Falconhead Capital Strikes First Add-On For Sports Platform
By Rimin Dutt for LBO Wire
2/12/2008 – Falconhead Capital LLC has clinched its first add-on acquisition for its endurance sports platform Competitor Group Inc., agreeing to buy Inside Communications Inc., which publishes VeloNews and Inside Triathlon magazines.
Terms of the deal, expected to close in the next 30 to 45 days, were not disclosed. Executives at Falconhead were not available for comment.
Boulder, Colo.-based Inside Communications also publishes the glossy magazine Tour de France Guide.
Competitor Group Inc. launched last month with the purchase of Triathlete Magazine, racing-events organizer Elite Running Inc. and Competitor Publishing Inc. With this deal, Competitor Group's publications will have a monthly circulation of about 500,000.
Falconhead also owns [or has owned] such properties as Extreme Fitness, National Powersport Auctions, Maritime Telecommunications Network, The Golf Warehouse and ESPN Classic Europe LLC.
Enthusiast media properties, which target a small group of hobbyists, have drawn considerable private equity interest in recent years. Intermedia Partners, Wind Point Partners and Arlington Capital are other buyout firms active in the sector.
The firm closed its $290 million Falconhead Capital Partners II LP last year.