Milbank LLP represented Fiume Capital in connection with their acquisition of Thrill One Sports & Entertainment from The Raine Group and Causeway Media Partners.
Dyrdek Machine, UFC President Dana White and television producer Craig Piligian have co-invested, with acquisition financing provided by Prudential Private Capital.
Founded in 2020, Thrill One has been uniting industry-leading brands Nitro Circus, Nitro Rallycross (Nitro RX), Street League Skateboarding (SLS) and Thrill One Media (formerly Superjacket Productions) to become the world's leading producer of action sports events and original content. The latter two of these brands were both founded by entrepreneur Rob Dyrdek, who also participated in the acquisition as a co-investor via his venture creation business, Dyrdek Machine.
Fiume and Juggernaut are again teaming up in a vertical that is primed for opportunistic M&A and further consolidation. The firms have partnered in 3 STEP Sports to create the largest youth sports operating platform in the country. Fiume's expertise in sports and media coupled with Juggernaut's consumer focus will bring additional value to the company and continue to focus on serving the interests of a young, passionate fan base. The resources and capital of the new ownership group will allow Thrill One to pursue organic growth initiatives and strategic acquisitions, which have been a key part of the company's roadmap since its inception.
The Milbank LLP deal team was led by Global Corporate partners Brett Goldblatt and Jason Anderson, along with associates Natalie Chitayat, Andrew Park, Jesus Diego, Antitrust partner Fiona Schaeffer, Real Estate partner Jonathan Karl and associate Liam O’Connor, Tax partner Max Goodman and associate Michael Rivkin, Global Capital Markets partner Antonio Diaz-Albertini and associate Christina Chaplygina, Litigation & Arbitration group special counsel Nathaniel Browand and Andrew Wellin and associate Eric Hyla, Executive Compensation special counsel James Beebe and associate Jon Sorger.
