RAM Racing CEO Buys Back Shares Of Company From Chicago Capital Partners
CHICAGO, April 19, 2018 /PRNewswire/ -- RAM Racing, the nation's premier producer of stellar endurance events, announced today that Steve Ginsburg, the Company's chief executive officer, has entered into an Agreement with Chicago Capital Partners (CCP) to re-acquire majority control of the business that CCP acquired in 2011.
In making the announcement, Ginsburg is doubling down and committing his focus on building the marketplace's most extensive running race company.
"The people of CCP were great partners for the seven years we worked together. They provided significant intellect and insight that were instrumental in quadrupling our volume of business from 2011 to today," Ginsburg said. "As we looked to the future, however, we knew our business model was evolving. We came to an amicable resolution for CCP to sell its share of the company back to me."
Ginsburg started Running Away Enterprises, LLC as a retail business in 2001 and transformed it into a multi-tiered business operation—RAM Racing, RAM Productions, and EnMotive. Ginsburg exited the retail business in 2016 to focus solely on race coordination and has now combined RAM Productions with EnMotive into one complete race services entity under the EnMotive umbrella.
EnMotive provides a turnkey offering of best-in-class technology and service solutions in one single "everything running" platform.
Given its vast scale, experience, and reputation, Ginsburg said third-party race events are increasingly capitalizing on RAM's high-quality infrastructure as the most effective and efficient answer to race production.
"Our company is doing things no other race company is attempting," Ginsburg said. "We want to be the preferred one-stop shop for race coordination and outsourcing in the endurance industry.
"We will find other races to coordinate; we will seek other business acquisitions and strategic partners that complement our service offerings; all with the goal of elevating the runner's experience," Ginsburg said.
One of the partners he's already brought into the fold is David Remick, a former Lifetime Fitness executive and former president of ChronoTrack Systems Corp., a company that developed RFID timing systems for athletic events.
Ginsburg concluded, "I expect that the Company will reach even greater heights. The running industry has been trending downward for the last few years but RAM Racing has bucked that trend. Our registration has increased for nine straight years though the 2016-2017 season and shows double-digit advance registration levels for 2018-2019. RAM Racing can lead the revival of the sector."
About RAM Racing
RAM Racing offers turnkey expertise for every aspect of the running industry. RAM Races owns and operates the national Hot Chocolate 15K/5K Race Series as well as a stable of other races across the country. EnMotive serves as RAM's one-stop technology and production solution offering fully customizable registration, timing, photography, content capabilities as well as operations, management, equipment, marketing and consulting. Designed to help independent race owners and directors elevate their events, RAM times over one million runners annually at small and large races.
SOURCE RAM Racing
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