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Donnerstag, 6. Juli 2023

IRONMAN CEO Andrew Messick announces retirement

IRONMAN CEO Andrew Messick announced retirement, will stay after transition of a new CEO as a member of the board of directors.

Andrew Messick is about to leave both positions as CEO and President of World Triathlon Corporation. Photo: Sportfinisherpix

Mahalo for 12 years dedicated years, Andrew for all positive aspects for triathlon and wisdom to keep the soul of the sport intact and find a mid- and longterm solution to keep all athletes in Kona together. This should be a core priority for all shareholders and stakeholders.


Press release, World Triathlon Corporation

Andrew Messick To Retire After 12 Years as President and Chief Executive Officer of The IRONMAN Group, Leading Company Through Some of Its Most Transformative Years

Under Messick’s leadership the triathlon event organizer became the world’s largest organizer of mass participation events expanding into road running, trail running, road cycling, mountain biking, and digital training platforms - Developed some of the most successful endurance sports series in the world including the IRONMAN & IRONMAN 70.3 series and the UTMB World Series - Led transformation of the company over a decade through multiple ownership groups, ultimately partnering with long-term focused owners Advance and Orkila Capital, to support the future of endurance sport - Messick to remain a Board member of the IRONMAN Group following the appointment of a new CEO

TAMPA, Fla. (July 6, 2023) – After 12 years of transformative leadership, Andrew Messick has announced he will be retiring in 2023 from his position of President & Chief Executive Officer for The IRONMAN Group. Messick will remain a stakeholder and member of the Board of Directors following the recruitment and appointment of a new CEO.

“Being the CEO of The IRONMAN Group has been the professional honor of my life – the most meaningful and purposeful work experience I have had — and I am filled with gratitude for the support of my team members, our partners, and the athlete community over the past 12 years,” said Messick. “I have given all I have to this job and my life has been enriched by the opportunity to build incredible events, meet athlete community members from all over the world, and lead an incredibly dedicated group of colleagues.”

Messick joined The IRONMAN Group in 2011 and led the transition of the organization from a triathlon brand to the world’s largest organizer of mass participation events with a compelling portfolio of hundreds of events annually across more than 50 countries in triathlon, running, trail-running, road cycling, and mountain biking, while also adding digital training platforms and programs for athletes. Key brands acquired or developed alongside the IRONMAN and IRONMAN 70.3 triathlon series include the UTMB® World Series, Rock ‘n’ Roll Running Series, Epic Series of mountain biking events anchored by the Absa Cape Epic, the Standard Chartered Singapore Marathon™, and FulGaz® virtual cycling digital platform. Throughout his tenure, Messick has tasked his team with creating and delivering opportunities for individuals around the world to experience the life-changing benefits of endurance sports.

Messick continued, “I am proud of the organization we have built with senior leaders and a global team of dedicated individuals who have been the backbone of our success. Combined with a supportive long-term focused ownership group in Advance and Orkila Capital, and a passionate base of athletes, the company is well positioned for the future.”

“Andrew and I first bonded 15 years ago over our shared love for IRONMAN and have worked together since 2011,” said Jesse Du Bey, Managing Partner for Orkila Capital. “It has been amazing to watch the business transform under his leadership. He has been a powerful force in growing The IRONMAN Group – endurance sport, and particularly triathlon – all over the world. We are all grateful for his service to the sport and look forward to his next chapter as a member of the Board.”

“Our partnership with Andrew and confidence in his leadership were critical to Advance’s decision in March of 2020 to acquire The IRONMAN Group while an unprecedented and unpredictable pandemic disruption to the live events industry was well underway,” said Janine Shelffo, Chief Strategy & Development Officer at Advance. “It is thanks to his steady stewardship that The IRONMAN Group has emerged from that disruption well poised to capitalize on the tremendous long-term opportunities we see ahead. I am grateful for his dedication and his longstanding commitment to inspiring athletes worldwide.”

Prior to joining The IRONMAN Group in 2011, Messick served as President of AEG Sports where he played a leading role for its sports teams and properties, including the Amgen Tour of California, Bay to Breakers foot race, Euroleague Basketball, and AEG China. Prior to that, Messick was the Senior Vice President, International for the National Basketball Association where he was responsible for overseeing the NBA’s network of international offices and for leading the NBA’s efforts to globalize.

Messick’s love for endurance sports played a key role in his decision to join The IRONMAN Group as CEO in 2011 and he has been a fixture over the past 12 years at hundreds of events all over the world. Andrew has completed four IRONMAN® triathlons and dozens of IRONMAN® 70.3® events, including the IRONMAN 70.3 World Championship; has completed all six of the Abbott World Marathon Majors; is an OCC Finisher of UTMB Mont-Blanc; and has competed in cycling events around the world including multiple Haute Route events.

Messick concluded, “Leaving this leadership role with IRONMAN is difficult, as my love for this company runs deep. I did my first IRONMAN and IRONMAN 70.3 triathlons nearly two decades ago, long before I had any affiliation with the organization. What I have learned and seen at the races have been some of the most meaningful experiences of my life. I have always been a true believer in the life-changing nature of our races, our mission, and our brand.”


About The IRONMAN Group
The IRONMAN Group operates a global portfolio of events that includes the IRONMAN® Triathlon Series, the IRONMAN® 70.3® Triathlon Series, 5150™ Triathlon Series, the Rock ‘n’ Roll® Running Series, IRONKIDS®, World Triathlon Championship Series, premier running events including the Standard Chartered Singapore Marathon™ and City2Surf®, UTMB® World Series trail-running events including the Canyons Endurance Runs™ by UTMB®, Tarawera Ultra by UTMB® and Ultra-Trail Australia™ by UTMB®, Epic Series™ mountain bike races including the Absa Cape Epic®, road cycling events including Haute Route®, and other multisport races. The IRONMAN Group is the largest operator of mass participation sports in the world and provides more than a million participants annually the benefits of endurance sports through the company’s vast offerings. Catering to the full athlete experience, the company portfolio also includes FulGaz® virtual cycling, the most realistic indoor riding experience connected fitness application aimed at preparing athletes for real-world events. Since the inception of the iconic IRONMAN® brand and its first event in 1978, athletes have proven that ANYTHING IS POSSIBLE® by crossing finish lines around the world. Beginning as a single race, The IRONMAN Group has grown to become a global sensation with hundreds of events across 55+ countries. The IRONMAN Group is owned by Advance, a private, family-owned business, and Orkila Capital, a growth equity firm focused on building great brands. For more information, visit www.ironman.com/about-ironman-group.

About Advance
Advance is a private, family-held business that owns and invests in companies across media, entertainment, technology, communications, education and other promising growth sectors. Our mission is to build the value of our companies over the long-term by fostering growth and innovation. Advance’s portfolio includes Condé Nast, Advance Local, Stage Entertainment, The IRONMAN Group, American City Business Journals, Leaders Group, Turnitin, and Pop. Together these operating companies employ more than 17,000 people in 29 countries. Advance is also among the largest shareholders in Charter Communications, Warner Bros. Discovery and Reddit. For more information visit www.advance.com.

Donnerstag, 26. März 2020

Advance to Acquire the Ironman Group From Wanda Sports Group

Advance announced today that it has entered into a definitive stock purchase agreement with Wanda Sports Group Company Limited (NASDAQ: WSG) to acquire The IRONMAN Group in an all-cash transactioon at enterprise value of USD 730 million.

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, makes up the largest mass participation sports platform in the world. From a single race on O’ahu, Hawai`i in 1978, The IRONMAN Group has owned, organized, promoted, and licensed endurance events for over 40 years, which now consists of more than 235 events in over 50 countries, across triathlon, running, trail running, cycling and mountain biking. Each year over one million international athletes participate in an IRONMAN Group race. 

Advance is committed to the future of The IRONMAN Group and believes in the long-term strength of its well-recognized brands and the dedication of its athletes, communities, employees and fans. Advance is a private, family-owned business that invests in a broad range of media and technology companies. 

Orkila Capital (“Orkila”) will co-invest in The IRONMAN Group and Jesse Du Bey, Managing Partner of Orkila, will rejoin its Board of Directors alongside Advance and Andrew Messick, President and CEO of The IRONMAN Group. Orkila is a growth equity firm focused on investments in the media, entertainment and consumer sectors. Du Bey, previously a Managing Director at Providence Equity Partners, led that firm’s 2008 investment in The IRONMAN Group. 

“Today is an important milestone for The IRONMAN Group. We are pleased with this partnership, which is a testament to Advance’s belief in the company,” said Andrew Messick, CEO of The IRONMAN Group. “We remain confident in our future; our focus and objectives are unchanged; and we are ready to face the opportunities and challenges ahead. Together with Advance and Orkila, we will navigate through the turbulent and uncertain period in front of us and continue to deliver the exceptional experiences for which we’re known. I’m also thrilled to welcome Jesse Du Bey back to the Board of Directors of The IRONMAN Group.” Messick continued, “We thank Wanda Sports Group for its support over the past four years and are proud of what we have accomplished together. We look forward to continuing our work in China with Wanda Sports Group in the coming years.”

“We are pleased to welcome The IRONMAN Group to the Advance family of companies,” said Janine Shelffo, Chief Strategy and Development Officer at Advance. “The core IRONMAN Group values of endurance and perseverance resonate strongly at Advance, a one hundred year-old business that has differentiated itself through long-term focus and commitment.  We are delighted to partner with Andrew and his executive team as they plan to resume exceptional race experiences for their passionate athletes, and to support the long-term growth of the business. We’re also pleased to join forces with Orkila and are grateful for the invaluable experience with The IRONMAN Group that they bring to our partnership.” 

“I look forward to this new chapter with The IRONMAN Group. Since I last worked with Andrew and his team, the company has experienced significant growth in its global triathlon event footprint and has successfully expanded into new areas such as running, trail running and mountain biking,” said Jesse Du Bey, Managing Partner of Orkila. “I am thrilled that Orkila is partnering with Advance, Andrew and The IRONMAN Group to help build this great family of brands into the future.”

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.

The transaction has no financing condition and is subject to customary regulatory approvals, with closing anticipated in the second quarter of 2020. 

Advance was advised by BofA Securities and Sullivan & Cromwell LLP. The IRONMAN Group and Wanda Sports Group were advised by Credit Suisse and Reed Smith LLP. 

Links

About The IRONMAN Group
The IRONMAN Group operates a global portfolio of events that includes the IRONMAN® Triathlon Series, the IRONMAN® 70.3® Triathlon Series, the IRONMAN® VR™ Series, 5150™ Triathlon Series, the Rock ‘n’ Roll Marathon Series®, IRONKIDS®, ITU World Triathlon Series, premier running events including the Standard Chartered Singapore Marathon™ and The Sun-Herald City2Surf® presented by Westpac, Ultra-Trail® World Tour events including Tarawera Ultra and Ultra-Trail Australia™, mountain bike races including the Absa Cape Epic®, road cycling events, and other multisport races. The IRONMAN Group is the largest operator of mass participation sports in the world and provides more than a million participants annually the benefits of endurance sports through the company’s vast offerings. Since the inception of the iconic IRONMAN® brand and its first event in 1978, athletes have proven that ANYTHING IS POSSIBLE® by crossing finish lines around the world. Beginning as a single race, The IRONMAN Group has grown to become a global sensation with more than 235 events across 50+ countries. For more information, visit www.ironman.com.

About Advance
Advance is a private, family-owned business that owns, operates and invests in companies spanning media, entertainment, technology, communications, education and other promising growth sectors. Our mission is to build the value of our companies over the long-term by fostering growth and innovation. Advance’s portfolio includes Condé Nast, Advance Local, Stage Entertainment, American City Business Journals, Leaders Group, Turnitin, 1010data and Pop. Together these operating companies employ more than 15,000 people in 19 countries. Advance is also among the largest shareholders in Charter Communications, Discovery and Reddit. For more information visit www.advance.com. 
About Orkila
Orkila Capital LLC (“Orkila”) was formed in 2013, by Jesse Du Bey and Taylor Storms, to pursue proprietary and compelling growth equity investment opportunities in the consumer, media and entertainment sectors. Orkila invests in leading companies at the forefront of evolving market opportunities, including Mikkeller, Recognition Media (The Webby Awards), Antares Audio Technologies (Auto-Tune), Omnipollo and Bellator MMA. Additionally, the Principals of Orkila co-founded Crash Line Productions (Boston Calling Music Festival, Eaux Claires Music & Arts Festival and others) as well as sourced and helped execute the 2008 purchase of World Triathlon Corporation (IRONMAN) on behalf of their prior firm. With over 30 years of experience, the Principals of Orkila seek to leverage their deep industry knowledge and relationships to focus on growth platforms with differentiated brands, IP or content. Orkila manages approximately $500 million of capital across three private equity funds and several Special Purpose Vehicles. For more information visit www.orkilacapital.com.