“We established Thrill One to build a central hub for action sports, catering to athletes, brands, and fans,” stated Thrill One CEO Joe Carr. “We’ve successfully brought together the largest audience and community in this space, and I’m incredibly enthusiastic about partnering with investors who possess a proven track record of building businesses and entire sports from the ground up. These additional resources will be instrumental in fueling the growth and expansion of our platform.”
This venture marks another collaboration between Fiume Capital and Juggernaut Capital Partners, who previously joined forces in 3 STEP Sports, creating the nation’s largest youth sports operating platform. Fiume’s expertise in sports and media, combined with Juggernaut’s deep consumer sector focus, is expected to bring substantial value to Thrill One. The partnership will prioritize serving the interests of a young and passionate fan base. The capital infusion from the new ownership group will empower Thrill One to pursue both organic growth initiatives and strategic acquisitions, a key element of the company’s strategy since its inception.
David Hirschfeld, CIO for Fiume, emphasized their investment philosophy: “Our approach centers on supporting exceptional management teams as they cultivate leading businesses within their respective industries. Thrill One is undeniably the leader in action sports, and we are thrilled to support the company and its management team at this pivotal moment.”
John Shulman, founder and managing partner of Juggernaut Capital Partners, echoed this sentiment, highlighting the immense potential of Thrill One: “Thrill One has experienced explosive growth in just the past two years. Our significant investment reflects our strong conviction in the continued expansion of this category, and we are eager to support Thrill One in its remarkable ascent.” Juggernaut Capital Partners believes Thrill One is uniquely positioned to capitalize on the growing global appetite for action sports content and experiences.
Thrill One’s portfolio boasts impressive momentum. Nitro Circus Live, following a successful US tour in 2021 and appearances on TBS’ “Go Big Show” and NBC’s “America’s Got Talent Extreme,” is expanding its global footprint in 2022 with a 40-date world tour across Australia, New Zealand, and Canada. Brisbane, Australia will also host Nitro World Games, the brand’s world championship of action sports, in October.
Nitro Rallycross, a dynamic force in motorsport, debuted its series last year and is scaling up to a 10-race global season across three continents for 2022-23. Nitro RX is also pioneering the FC1-X electric supercar, the most powerful rallycross vehicle ever created, making it the first US-based series to fully embrace electric racing.
Dana White, president of the Ultimate Fighting Championship, expressed his admiration: “I’ve been a long-time fan of the Nitro guys. They consistently push boundaries and elevate the level of excitement. Their potential reminds me of the early days of UFC.”
SLS, the pinnacle of professional skateboarding, is set to return to indoor arenas this season for the first time in three years. The Championship Tour will showcase 50 of the world’s elite street skateboarders, including Olympic medalists and former world champions. Each tour stop will feature a distinctive, custom-designed concrete skate plaza, a signature element that has distinguished SLS for over a decade.
Thrill One Media continues to build on its legacy of successful television programs such as “Ridiculousness,” “The Dude Perfect Show,” and “Rob & Big,” with several unscripted projects in development. The production company is also venturing into scripted and competition formats later in the year.
Rob Dyrdek shared his enthusiasm for the future: “It’s a dream come true to know that SLS and Superjacket Productions are in such capable hands with Thrill One’s management team. This transaction positions them for an incredibly promising future. I’m excited to continue partnering with this exceptional group of investors to create groundbreaking content and redefine action sports.” The involvement of Juggernaut Capital Partners is seen as a significant endorsement of Dyrdek’s vision.
In 2022, the Thrill One portfolio is projected to host over 70 live events, deliver approximately 100 hours of live sports content, and produce more than 300 episodes of linear television. Thrill One boasts a substantial social media presence, with over 40 million followers across its various channels. The company recently announced the largest sponsorship deal in action sports history with A SHOC Energy, making the energy beverage brand Thrill One’s official energy partner.
Fiume Capital received legal counsel from Milbank LLP, while Juggernaut Capital Partners was advised by Morgan, Lewis & Bockius LLP. Thrill One and The Raine Group were advised by Sidley Austin LLP. Financing for the transaction was spearheaded and provided by Prudential Private Capital, with co-lending from CION Investment Corp. and MGG Investment Group.
About Thrill One Sports & Entertainment
Thrill One Sports & Entertainment is a next-generation content company at the intersection of sports, entertainment, and lifestyle. It combines the strengths of Nitro Circus, Street League Skateboarding (SLS), Nitro Rallycross (NRX), and Thrill One Media. Founded in 2020, Thrill One is dedicated to producing captivating action sports events and original content, driven by the most daring athletes, talent, and brands in thrill-based entertainment. Thrill One Sports & Entertainment also commands a vast aggregate social audience in action sports, exceeding 40 million followers across its brand pages and channels. For more information, visit thrillone.com. @Instagram @LinkedIn
About Fiume Capital
Fiume Capital is a leading private investment firm focused on media, entertainment, and consumer sectors, with a particular emphasis on sports, live events, and content and distribution. Comprising seasoned entrepreneurs, operators, and investors, Fiume Capital supports its management teams in sectors aligned with its expertise. Their portfolio includes Moonbug Entertainment, the Action Network, and 3 STEP Sports.
About Juggernaut Capital Partners
Juggernaut Capital Partners is a private equity firm specializing in buyout and growth investments in the consumer and healthcare industries, targeting the lower middle market. Juggernaut Capital Partners‘ investments span across 3 STEP Sports, ZOA Energy, and VOSS Water, demonstrating their commitment to high-growth consumer-facing businesses. @LinkedIn
About Dyrdek Machine
Dyrdek Machine is a venture creation studio established by Rob Dyrdek, focused on building innovative companies by blending creativity, data-driven strategies, and unique insights. Dyrdek Machine provides resources, capital, and expertise to entrepreneurs with ambitious visions. @Instagram
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SOURCE Thrill One Sports & Entertainment
