San Antonio Marathon Organizer Bought by Falconhead Capital
By San Antonio Business Journal
1/7/08 - Elite Racing Inc., the organizer of the 2008 Rock 'n' Roll San Antonio Marathon, has been purchased by Falconhead Capital LLC, a private equity firm that specializes in sports, leisure, lifestyle and media businesses.
San Diego-based Elite is the largest owner and operator of running events in the United States. It will be combined with Falconhead's other newly acquired companies -- La Jolla Holding Group LLC and Competitor Publishing Inc. -- to form Competitor Group Inc.
La Jolla Holding publishes Triathlete Magazine, while Competitor Publishing produces a number of regional magazines with a controlled monthly circulation of 450,000. Triathlete has a monthly circulation of 60,000.
Financial terms were not disclosed. The resulting company is now the largest media and event business exclusively aimed at the endurance sports industry.
Organized events include running, cycling and triathlons. It is a rapidly growing industry worth $1.3 billion and claiming more than 3.4 million active participants nationwide. The demographics for this market are the 25 to 54 year-old segment with average household incomes in the $75,000 to $95,000 range.
New York-based Falconhead Capital has $500 million of assets under management.
The inaugural Rock 'n' Roll San Antonio Marathon will take place on Nov. 16, 2008. It is expected to draw more than 15,000 runners and walkers to the event and will feature 70 live bands.