Competitor Group Inc. confirmed Monday that it has been sold to Calera Capital, as reported by several news sources including BRAIN last week. In a press release, Calera said Scott Dickey, president and chief executive officer, and Steve Gintowt, chief operating officer and chief financial officer, will continue to lead the company.
CGI, publisher of Velo and Triathlete magazines and owner of several major running event series, had been owned by Falconhead Capital.
New ownership will continue a strategy of developing new events and making strategic acquisitions, Calera managing partner James Farrell said.
The companies did not disclose terms of the deal. A source close to the deal told BRAIN last week that the purchase price was about $220 million.