Business
Chinese company buys Ironman for £430m
CHINESE company Dalian Wanda Group, headed by China’s richest man, has bought the company that runs a popular triathlon event in Tenby, which is said to be worth over £4m to the Pembrokeshire economy, for $650m.
The purchase is part of a diversification that the property developer said may involve another sports purchase by year-end. It is predicted that the seller, Providence, will make a four times return on its original Ironman investment.
The purchase is Wanda’s latest sporting acquisition after Swiss marketer Infront Sports & Media and a stake in Spanish football giants Atletico Madrid, as the group counters a slowdown in its domestic property market with a move into entertainment.
Wanda, parent of Dalian Wanda Commercial Properties Co, China’s biggest commercial real estate developer, aims for revenue of $100 billion by 2020 from $40 billion in 2014. Ironman will bring in $183 million this year, following four years’ compound growth of 21%, Providence said.
Ironman comprises a 2.4 mile swim, 112 mile bike ride and 26.2 mile run, completed in under 17 hours. Wanda plans to hold as many as three races in China next year and increase Chinese participants to 200,000 over the next decade from 100.
The 2015 acquisition of Ironman, Infront Sports & Media and a stake in Atletico Madrid has made Wanda Group one of the world’s largest and most comprehensive sports companies. With these new businesses, Wanda Group now has sports sales, media & marketing, and operational capabilities on six continents with strong positions in North America, Europe, China, South Africa, Australia and New Zealand.
“The acquisition of IRONMAN by Wanda Group is a momentous step for the future of our brand,” said Andrew Messick, Chief Executive Officer for IRONMAN. “As a globally minded company with a mutual desire for excellence and expansion, especially in Asia, Wanda is the ideal partner. I’m privileged to remain at the helm of this extraordinary organization as we embark on this new chapter in our history. Thank you to Providence Equity Partners for seven outstanding years of ownership.”
In the 2015 Ironman Wales, American Jesse Thomas earned an Ironman title in his first attempt at the distance, while German Anja Baranek—who came into the event fresh from finishing third at the Ironman 70.3 World Championships—dominated the women’s race from start to finish to claim the women’s title.
Business
Secretary of State, Jo Stevens MP confirms Pembrokeshire’s role in green energy pilot
SECRETARY OF STATE FOR WALES, Jo Stevens MP, was in Pembrokeshire today to confirm that the county will be part of a pilot project for green energy. Speaking to The Pembrokeshire Herald, she said: “I welcome the skills pilot in Pembrokeshire, calling it a crucial step in securing a workforce for clean energy expansion in the Celtic Sea.” Economy Secretary Rebecca Evans added: “This initiative, led by the Welsh Government, will unlock vast opportunities for green jobs and energy security.”
Thousands of workers will benefit from government-backed training as part of a major skills investment to prepare the UK for a clean energy future by 2030. Key regions, including Aberdeen, Cheshire, Lincolnshire, and Pembrokeshire, have been identified for growth in offshore wind, nuclear, and solar industries under the government’s Plan for Change.
The initiative will provide funding for local training centres, courses, and career advisors, equipping workers with skills in welding, electrical engineering, and construction. The government has also launched a long-awaited ‘skills passport’ to help oil and gas workers transition into renewable energy jobs, particularly offshore wind. Developed in collaboration with industry and the Scottish Government, the online tool will guide workers into roles such as construction and maintenance.
Funding to drive economic transformation
The government has allocated initial funding to Cheshire West and Chester, North and North East Lincolnshire, and Pembrokeshire, with around £1 million earmarked for each area. Aberdeen, which has already completed extensive skills mapping, will be considered for further funding later this year.
Energy Secretary Ed Miliband said: “Our Plan for Change is about more than clean power; it’s about reindustrialising Britain with well-paid, union jobs in industrial communities. We are ensuring that British workers seize the opportunities clean power brings.”
Acting Cabinet Secretary for Net Zero and Energy Gillian Martin highlighted Scotland’s commitment, stating: “It is vital that we support oil and gas workers in transitioning to sustainable jobs. The Energy Skills Passport ensures their expertise is recognised and applied in our fair and managed transition to net zero.”
Building a skilled workforce
Research by Offshore Energies UK shows that 90% of oil and gas workers possess skills relevant to the clean energy transition. From January 22, workers can use the skills passport to access four career pathways, with further expansion planned over the next year.
The government has also confirmed contracts for the UK’s first carbon capture project in Teesside, reinforcing its commitment to transforming industrial heartlands. Employers will receive a handbook outlining available support for workforce growth and upskilling.
Industry and government backing
Welsh Secretary Jo Stevens welcomed the skills pilot in Pembrokeshire, calling it a crucial step in securing a workforce for clean energy expansion in the Celtic Sea. Economy Secretary Rebecca Evans added: “This initiative, led by the Welsh Government, will unlock vast opportunities for green jobs and energy security.”
Cheshire West and Chester Council leader Cllr Louise Gittins said the initiative would play a “crucial role” in transitioning workers to clean energy sectors. Midlands Net Zero Hub head Jack Hayhoe stressed that strategic skills investment could unlock £15 billion of economic growth in the next five years.
A roadmap to net zero
The Energy Secretary is convening a roundtable with industry, education, and trade union leaders to ensure the UK workforce is prepared for the clean energy transition. The regional skills funding comes from the Office for Clean Energy Skills Fund, with key partnerships supporting skills mapping and training development.
The Plan for Change aims to unlock £40 billion of annual investment, securing thousands of jobs and positioning Britain as a global leader in clean energy.
Business
UK Government Invests in Gigabit Broadband for South West Wales
THE UK GOVERNMENT has announced a further investment in Project Gigabit, aiming to deliver high-speed broadband to hard-to-reach areas across Britain. Rural towns and villages in South West Wales are among the latest to benefit, as part of a wider effort to achieve near-total gigabit coverage by 2030.
The programme, a key pillar of the Government’s Plan for Change, is designed to stimulate economic growth and remove barriers to opportunity. The latest rollout will bring some of the fastest broadband speeds available to remote communities, enhancing access to essential services such as healthcare, remote education, and video communication. It is also expected to support business growth and improve job opportunities for young people.
Welsh leaders welcome investment
Cllr Hazel Evans, of Carmarthenshire County Council, welcomed the announcement, saying: “This is a much-needed boost as we strive to improve digital connectivity across Carmarthenshire. Further investment will help ensure our rural communities continue to prosper as we transition towards a more digital society.”
Rob Stewart, Leader of Swansea Council and Chair of the Swansea Bay City Deal’s joint committee, also praised the initiative:
“This is fantastic news for the rural communities in our region. The Swansea Bay City Deal fully supports initiatives that improve the lives of people and businesses. This investment in digital infrastructure will create social and economic opportunities for communities that would otherwise be left behind.”
£289 million boost for broadband expansion
The announcement forms part of four new contracts worth over £289 million, aimed at delivering gigabit-capable broadband to approximately 131,000 homes and businesses across England and Wales.
Unlike traditional copper-based networks, gigabit connections provide faster and more reliable service, even during peak times. Households and businesses will no longer need to compete for bandwidth, as these high-speed networks allow multiple devices to operate seamlessly.
Welsh Secretary Jo Stevens highlighted the significance of the investment: “Powered by this UK Government funding, thousands more people and businesses across Wales will gain access to ultra-fast broadband. Our priority is to drive sustained economic growth, and to achieve this, we must ensure every part of Wales has full digital coverage as quickly as possible.”
Implementation and next steps
The Digital Infrastructure Programme is working closely with Building Digital UK (BDUK) and Openreach to deliver Project Gigabit. Further regional updates are expected in the coming months, outlining timeframes and specific locations set to benefit.
Upgrading and expanding existing networks is a complex process, requiring technical surveys and coordination between commercial providers and local authorities, including planning and highways departments. As a result, implementing gigabit-capable broadband can take time.
For further details about broadband plans in your area, residents are encouraged to contact their Digital Champion for more information.
Business
Welsh Govt-backed SME exports surpass £320m since Export Action Plan launch
SMALL and medium-sized enterprises (SMEs) in Wales have secured over £320 million in export deals directly supported by the Welsh Government since the introduction of its Export Action Plan in December 2020.
The government’s tailored export assistance includes comprehensive market research, strategies to identify new customers, and hands-on support to help businesses enter international markets and forge lasting partnerships.
This milestone follows a series of successful 2024 trade missions, which introduced 150+ Welsh businesses to key global markets. Highlights included enabling life sciences firms to exhibit at Medica in Düsseldorf and supporting fintech companies at Money 20/20 in Amsterdam.
Case Study: Brainbox Ltd
Cardiff-based Brainbox Ltd, a leader in non-invasive brain stimulation and imaging technology for neuroscience research, has achieved £5 million in new international contracts with Welsh Government backing.
Dan Phillips, Commercial Director at Brainbox, said: “Exporting has been pivotal to our growth, enabling us to showcase cutting-edge neuroscience solutions worldwide. The Welsh Government’s support has been instrumental in launching new products, building global relationships, and driving our expansion over the past five years. Their tailored approach exemplifies how strategic trade guidance can propel businesses onto the international stage.”
2025: A Year of Global Ambitions
The Welsh Government has announced seven international trade missions scheduled by March 2025, including:
- Arab Health Expo in Dubai (January 2025)
- Trade delegations to Singapore and Malaysia (February)
- Participation in Gulfood Dubai, Foodex Tokyo, and the Game Developers Conference in San Francisco (March).
Additionally, the Explore Export Wales 2025 conferences in March will unite Wales’ “export ecosystem” of support services under one roof, offering SMEs expert advice on navigating global markets.
Rebecca Evans, Cabinet Secretary for Economy, Energy, and Planning, commented: “Exporting empowers SMEs to scale up, create jobs, and bolster resilience in a competitive global economy. Despite recent challenges, our Export Action Plan has delivered undeniable value to Wales. We remain committed to ensuring businesses across the nation continue to thrive internationally in 2025 and beyond.”
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