World Triathlon Corporation - History

History

In 1990, with the help of Lew Friedland, Dr. James P. Gills acquired and purchased the Hawaii Triathlon Corporation, owner of the Ironman Brand, for $3 million from Valerie Silk. With the Ironman brand, Gills established the World Triathlon Corporation with the intention of furthering the sport of triathlon and increasing prize money for triathletes. Ben Fertic, formerly Vice President of Information Systems, joined WTC in 2000 and was involved in the business operations and day-to-day decision making for WTC. Fertic became CEO of WTC in 2004.

During Fertic's tenure as VP, he was instrumental in creating Ironman Live, the online presence of the Ironman Triathlon, and transforming WTC into an event production company. In 2007, WTC undertook expansion in producing Ironman events internally, with the inaugural Ford Ironman Louisville. This followed the launch of Ironman 70.3 events in Boise, Idaho and Providence, Rhode Island.

In 2008, World Triathlon Corporation was purchased by Providence Equity Securities for an undisclosed sum. Providence Equity is a private equity firm, of whom one board member is an Ironman athlete. CEO Ben Fertic remained at the helm of the business. The following year, in early in 2009, WTC announced the acquisition of Ironman events based in the United States, from North American Sports, a company founded by Canadian Graham Fraser. Employees from North American Sports were expected to remain and manage these events, with the existing office in Boulder, Colorado now under the ownership of WTC.

On May 31, 2011, WTC announced that Andrew Messick, who was previously the president AEG, would become CEO of the World Triathlon Corporation. Fertic would continue in his role in serving on the Board of Directors as well as serving in a newly created president position. Messick, who is an Ironman triathlon finisher himself, helped build and direct, among other things, the Tour of California cycling event.

In February 2012 WTC purchased USM Events, owners of Australian triathlons in Geelong, Mooloolaba, and Noosa, as well as the Sydney World Triathlon Series (WTS) race. USM Events also owned and produced a full Ironman distance race in Cairns, Australia called Challenge Cairns. Challenge, a rival to the Ironman brand, did not wish to have WTC running one the Challenge family of races. As a result Challenge terminated its contract with USM and Challenge Cairns subsequently became Ironman Cairns. The purchase of USM Events expands WTC's Asia-Pacific triathlon market. The purchase would have placed WTC into International Triathlon Union racing with the Sydney WTS race, but government officials in New South Wales took the option of not extending an agreement to continue staging the Sydney event due to the ongoing logistical and financial investment required.