Golub Capital is Sole Bookrunner and Administrative Agent in Support of Falconhead Capital’s Refinancing of The Competitor Group, Inc.
NEW YORK, Sept. 15, 2010 /PRNewswire/ — Golub Capital today announced that it acted as the Sole Bookrunner and Administrative Agent for a $57.5 million senior secured credit facility to refinance and support the continued growth of The Competitor Group, Inc. ("Competitor Group" or the "Company"), a portfolio company of Falconhead Capital ("Falconhead").
Headquartered in San Diego, CA, Competitor Group is the leading endurance media and event entertainment company dedicated to promoting the sports of running, cycling and triathlon. Competitor Group owns and operates 36 national endurance events that delivered more than 350,000 professional and amateur participants in 2010. Competitor Group publishes four magazine titles including VeloNews, Inside Triathlon, Triathlete Magazine, and Competitor Magazine with a combined monthly circulation of over 800,000. In addition, the Company holds a captive online endurance community at competitor.com delivering over 1.5 million monthly unique visitors and 25 million page views.
This is Golub Capital's second deal with Falconhead. In 2006, Golub Capital provided financing to support the firm's acquisition and growth of Extreme Fitness, Inc.
"We are pleased to be working with Falconhead again as we view them to be one of the premier middle market financial sponsors with a focus on leisure/entertainment businesses. We have been fans of Competitor Group and its management team since the Company was formed in 2007 and are excited to help the business grow both organically and through acquisition," said Golub Capital Managing Director Charlie Riceman.
"It was important to us to move on an expedited timetable to craft a flexible financing solution to support Competitor Group's growth plan. We thank the professionals at Golub for once again working with us to efficiently close this transaction," said Brian Crosby, a Partner at Falconhead Capital.
About Golub Capital
With over $4 billion in capital, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm's proprietary GOLD facility), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million. Golub Capital's hold sizes range up to $75 million per transaction. Golub Capital was ranked by Thomson Reuters Loan Pricing Corporation as the #1 Traditional Middle Market Bookrunner for 2009. For two years in a row, Golub Capital was named "Middle Market Lender of the Year" by Buyouts Magazine for achievements in 2009 and 2008. Other honors include being named "Debt Financing Agent of the Year" in June 2010 by M&A Advisor. Golub Capital is a national firm with offices in Chicago, New York and Atlanta. For more information, please visit the firm's website at www.golubcapital.com.
First Call Analyst:
SOURCE: Golub Capital
CONTACT: Charlie Riceman, Managing Director, +1-212-660-7266,