To my knowledge, a private equity company has never invested in the horse industry, at least as not as aggressively and as extensively as Vodskov, Denmark-based Global Equestrian Group (GEG), which was founded in 2021. Its stated mission is to be the largest equestrian company in the world. Currently, it has 250-plus employees and annual revenues of about EURO 175 million.
GEG has “activities in dressage, show jumping and events, jewelery…equestrian accessories and apparel, as well as other equestrian sports investments.” Some of its acquisitions are:
Wellington International (Palm Beach County, FL)
Helgstrand Dressage
Ludger Beerbaum Stables
Ruxbury
Riesenbeck International
Chronicle of the Horse magazine
GEG is a subsidiary of Waterland Private Equity, which was started in the Netherlands in 1999 and now has 12 offices in 10 countries. Waterland has previously invested in 900 companies. Its goal is to “enhance long-term value” in its portfolio companies.
In my view, the jury is out on whether even such a large-scale equine portfolio can generate the magnitude of monetary returns that investors in private equity normally expect. Only time will tell.
To date, GEG has not invested in horse racing and has not publicly indicated any plans in this respect. If it decides to do so that could be the most significant development in the sport since the innovation of racing partnerships.
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