The Professional Triathletes Organisation, a not-for-profit group, is proposing to enter talks to acquire Wanda Sports Group Co. Ltd.'s Ironman triathlon business and related mass participation assets.
The group would consider an all-cash deal or an arrangement where existing Wanda Sports shareholders will become investors in the business, formally named World Triathlon Corp. The PTO named investment bank North Point Advisors to be financial adviser on the potential transaction.
Meanwhile, the PTO named Sam Renouf CEO. The former triathlete worked for Active Network LLC as head of its global sports business and member of the executive leadership team.
Wanda Sports is a unit of Chinese conglomerate Dalian Wanda Group Co. Ltd.
