SPAC Watch: $SWET IPO with Fitness Focus and First Time, but Strong Team

Causeway Media Partners is sponsoring Athlon, a SPAC focused on the health, fitness, and wellness sector
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Athlon Acquisition Corp. (SWETU) priced its IPO, raising $240mm; its units began trading yesterday (1/12), and closed up at $10.45.

The Causeway Media Partners sponsored SPAC will be targeting the health, fitness, and wellness sector, with proposed hypotheticals including digital fitness programming and activewear. They are targeting a deal will be priced in-between $700mm and $2b.

This is the first SPAC for the Athlon / Causeway team:

The Team

Chris Hickey is CEO of Athlon. He has a distinguished record of leadership in the health, wellness and fitness industry with stints as CEO of companies such as Isopure and Kalahari Snacks. Hickey’s resume extends beyond CEO positions, serving as an operating partner of VC fund AF Ventures and as an advertising executive companies like Proctor & Gamble.

David Poltack is CFO of Athlon. He currently serves as CFO of Causeway Media Partners, and has had previous leadership roles at Globespan Capital Partners and PricewaterhouseCoopers.

Mark Wan (D) is executive chairman of Athlon’s board of directors. Currently at Causeway Media Partners (which he co-founded), Wan is a respected PE and VC veteran.

Athlon has assembled an experienced and its board, with experience in relevant industries:

Daniel Burns was formerly CEO of EXOS, now serving as its executive chairman. He has experience as a Bain & Company consultant.

Daniel Gallagher is CFO of Crunch Holdings. He previously had leadership roles at Town Sports International (TSI) and PricewaterhouseCoopers.

Paraag Marathe is a veteran of NFL team San Fransico 49ers, serving as President of 49ers Enterprises and EVP of Football Operations. He also has consulting experience for Bain & Company and International Management Group.

Jared Smith is President of Ticketmaster and Executive Vice President of Live Nation.

Take Away

Causeway Media Partners is an extremely reputable investment firm, with leadership from Wys Grousbeck, Bob Higgins, and the aforementioned Wan encompassing decades of work and billions of dollars in transactions.

With that said, it’s not surprising the SPAC Causeway sponsored has an impressive leadership team, and be on the look out for Athlon to make a purchase sometime in 2021.