Projo Biz Blog

Providence Equity Partners has acquired the Florida-based company that runs the grueling Ironman triathlon races held around the United States and in other countries.

The investment group bought World Triathlon Corp, a privately held company based in Tarpon Springs, Fla. The purchase price was not disclosed.

"Providence is excited about the opportunity to support World Triathlon Corporation and is pleased to be working with CEO, Ben Fertic to further grow the business," said Andrew Cole, a spokesman for Providence Equity Partners, in a statement.

"We look forward to building on its tremendous success as the leading user-based sports brand in the world."

Providence Equity Partners, based in Providence, is a private equity firm that has investments in media, entertainment and communications companies, including Warner Music Group and the Yankees Entertainment and Sports Network. The company has about 100 employees and also has offices in London, New York, Hong Kong and New Delhi.

World Triathlon owns the rights to the Ironman competitions which are considered among the most difficult sports endurance contests. The competitions are essentially triathlons which combine three races into one. Athletes first swim, then bike and then run.

An Ironman race is a triathlon with its own specific distances. Athletes who participate first swim 2.4 miles, bike 112 miles and then run a 26.2 mile marathon.

The world championship is held in Hawaii each October. A "half Ironman" race took place in Rhode Island in July. Participants swam 1.2 miles, rode a bike for 56 miles and then ran 13.1 miles.

---