#PrivateEquity +PrivateEquity Scooping Up Events #SlowswitchDOTcom @resilient_ent

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Written by: Dan Empfield

Date: Thu Feb 23 2012

The two most visible corporations in triathlon that are backed by private equity have recently added to their holdings.

World Triathlon Corporation, backed by Providence Equity Partners, has brought most of the highest profile Australian events into its collection of races. It purchased USM Events last week, which means major triathlons in Noosa, Mooloolaba and Geelong are under the WTC ownership umbrella. USM also produces the Sydney WCS event, so it owns a piece of the ITU World Championship title.

Challenge Cairns is also part of the USM collection, which means WTC owns a major installment in the Challenge series. Challenge is one of WTC's most ardent competitors. WTC has not said whether the Cairns race will remain a

Challenge event after its June, 2012 installment, or whether there's a possibility it may flip to an Ironman after 2012.

The USM purchase also puts WTC's CEO, Andrew Messick, back into the cycling business. His prior job was heading up the Amgen Tour of California for AEG. By adding USM's events to the WTC family, he now runs the Jayco Herald Sun Tour, a 60-year old stage race that is Australia's oldest. It's also one of the world's oldest, having started in 1952. This is one of several cycling events USM produces in Australia.

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