The Raine Group, a global merchant bank, and Causeway Media Partners, a venture capital firm, have partnered to create Thrill One Sports and Entertainment by combining Nitro Circus, Street League Skateboarding (SLS) and Superjacket Productions.

Thrill One is now an independent action sports operator and media company and will be headed up by Joe Carr, chief executive officer. The partnership has come about with backing provided by MidCap Financial, a commercial finance company.

“This groundbreaking alliance combines three prized brands into a single entity, transforming what has historically been a fragmented landscape into the biggest platform in action sports,” said Carr. “Action sports are enjoying a renaissance right now with Olympic inclusion in 2020, the democratisation of media and the worldwide fanbase at an all-time high. I look forward to working with our athletes and talented management team to drive organic growth in our existing businesses while also identifying potential M&A opportunities and complimentary IP.”

Nitro Circus creates live events and spectacular sports competitions across a portfolio that includes Nitro World Games, Nitro Rallycross, and Nitro Circus Live.

Travis Pastrana, co-founder of Nitro Circus, commented: “At Nitro Circus, we have the amazing opportunity to work with the best athletes, content creators and technical geniuses in the business, reaching fans worldwide. Now, by teaming up with SLS and Superjacket to create this game-changing team, we can pull our resources together with the unified goal of growing the fun and progression of action sports on a global level.”

Thrill One Sports and Entertainment will “hit the ground running in 2020”, with more than 30 events scheduled worldwide across its extensive portfolio. The company will also produce more than 100 hours of live sports and deliver more than 175 episodes of original programming this year.