Storm the Castle duathlon was founded by Be Endurance in 2015 but they announced that this year's event was their last.
Now Andali Events has stepped in to take over the event, which has been recognised as race of the year by Triathlon 220 magazine.
With the race finishing at Ludlow Castle, the organisers had promised that competitors would be left 'in ruins'.
It has participants tackling one of UK’s most challenging undulating courses, including the notorious lactic ladder.
Dermott Hayes, of Be Endurance said: “After the dust settled on the final Storm the Castle a few weeks ago and we packed away the race we all believed that was the end of an era.
"In the following days after the race we were contacted by a local fitness and events company interested in taking the event forwards and we are very excited to announce that Storm the Castle will continue under the new ownership of Andali Events.
"The new directing team, Andy Silvey and Harriet Dearden, have both completed the Ludlow based events many times and come into this with a wealth of experience in participating in multisport events.
"The team at Be Endurance are very happy to see these events carry on under new stewardship and in particular by local athletes and businesses who understand the connection we built with the local community of Ludlow.”
In addition to Storm the Castle, Andali Events will also take on the organisation of the Ludlow10 road race, an evening 10k race which takes place in the medieval town in July each year.
Mr Silvey said: “Between us Harriet and I have racked up 17 entries into the Storm the Castle and Ludlow10 races and therefore appreciate just how special they are. We were gutted when it was announced with a heavy heart that Be Endurance would no longer be able to continue organising Storm the Castle and we both wondered if there was a way forward.
"After discussions with Be Endurance we are thrilled and honoured to have the opportunity to take not only this fantastic event but also Ludlow10 forward into 2023 and beyond, continuing with the same great values that Be Endurance have established.”
Ms Dearden added “We can't wait to welcome all of the wonderful athletes back to Ludlow to watch them challenge themselves on one or both of the courses. From novices to elite athletes, locals and those from further afield we look forward to seeing you all next year".
Dates for the 2023 events will be announced later in the year.
Follow @andalievents on Facebook or Instagram, or visit andalifitness.com/events for more details.