Providence-backed WTC bolts on USM Events
World Triathlon Corporation (WTC), the Australian athletic events organizer owned by Providence Equity Partners, has acquired event management company USM Events.
Following the deal, WTC's Ironman and Ironman 70.3 branded races will be managed under the USM umbrella. Daryl Herbert, owner and managing director of USM Events, will remain in a management role and WTC's Asia-Pacific staff will be integrated into USM Events.
"Besides bringing world-class events like Noosa, Mooloolaba, Geelong and the Cairns Adventure Festival into the WTC family of events, USM provides WTC with a robust operational platform in the Asia-Pacific region," said Andrew Messick, CEO of WTC.
As well as owning several high-profile multisport festivals, USM Events also operates the Jayco Herald Sun Tour cycling event and the Sydney ITU World Championship Series triathlon event.
WTC is headquartered in Tampa and was established in 1978. It purchased the Ironman triathlon from health club owner Valerie Silk in 1989.
Specialist media and entertainment investor Providence bought the company in 2008, and transferred its equity to a newco called World Endurance Holdings. It was said at the time of the acquisition that several Providence executives were endurance athletes, and that one of its board members was an Ironman athlete.
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