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Advance to Acquire IRONMAN Group from Wanda Sports Group for USD 730m
Friday 27 March 2020

27 March 2020 - US investment company Advance has entered into a definitive stock purchase agreement to acquire Tampa-based events portfolio The IRONMAN Group from Wanda Sports Group company Ltd. (NASDAQ: WSG) for USD 730m in an all-cash transaction, the company said.
The transaction has no financing condition and is subject to customary regulatory approvals, with closing anticipated in the second quarter of 2020.
Orkila Capital will co-invest in The IRONMAN Group Orkila is a growth equity firm focussed on investments in the media, entertainment and consumer sectors. 
As part of the transaction, Wanda Sports Group will continue to operate the IRONMAN and IRONMAN 70.3 triathlon series, Rock 'n' Roll Marathon Series and Epic Series of off-road mountain bike races in China under an exclusive license agreement.
Advance was advised by BofA Securities and Sullivan and Cromwell LLP. The IRONMAN Group and Wanda Sports Group were advised by Credit Suisse and Reed Smith LLP.
The IRONMAN Group and its portfolio of assets, which includes its flagship IRONMAN and IRONMAN 70.3 triathlons, the Rock 'n' Roll Marathon Series, and the Epic Series of mountain biking races, among other events, is a mass participation sports platform.
The IRONMAN Group has owned, organised, promoted, and licensed endurance events for over 40 years, which now consists of more than 235 events in over 50 countries.
Advance owns, operates and invests in companies spanning media, entertainment, technology, communications, education and other promising growth sectors. Advance is also among the largest shareholders in Charter Communications, Discovery and Reddit.
Orkila Capital LLC offers growth equity investment opportunities in the consumer, media and entertainment sectors. Orkila manages approximately USD 500m of capital across three private equity funds and several Special Purpose Vehicles.
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Date Published: 27/03/2020

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