Providence Equity Partners has agreed to sell 100% of portfolio company IRONMAN to Chinese conglomerate Dalian Wanda Group for approximately $650 million excluding debt. As part of the transaction, Wanda Group will work with the current lending group and assume IRONMAN's existing indebtedness, which brings the company's value to a reported $900 million. The IRONMAN brand is the largest participation sports platform in the world. Its flagship triathlon races consist of an approximately 2.4 mile swim, 112 mile bike ride and a 26.2 mile run. The company expects to generate $183 million in revenue in FY 2015 and has increased its revenue at a CAGR of 21% over the past four years. Providence will make a return of roughly 4x from the exit, according to reports.