WELLINGTON, Fla .– (COMMERCIAL THREAD) – Andreas Helgstrand, CEO of Global Equestrian Group (GEG), and Mark Bellissimo, CEO of Wellington Equestrian Partners (WEP), announced an unprecedented partnership focused on the development of international equestrian sport. GEG will acquire the Palm Beach International Equestrian Center (PBIEC) based in Wellington, Florida and invest in WEP equestrian lifestyle initiatives. WEP’s biggest partners, Mark Bellissimo, Roger Smith, Lisa Lourie and Marsha Dammerman as well as Michael Stone will co-invest in GEG. Mark Bellissimo and PBIEC have transformed Wellington into the world’s premier destination for horse riding enthusiasts, with competitions and events spanning over 40 weeks each year. The PBIEC hosts the Winter Equestrian Festival, which lasts 13 weeks and is the largest and oldest equestrian sporting event in the world. 4,000 families, 8,000 horses and 250,000 spectators from 43 different countries converge on Wellington to compete for more than $ 12 million in prize money. A recent independent economic study highlighted the annual economic impact of the Winter Equestrian Festival on Palm Beach County of $ 279 million in total spending and 150,000 overnight stays. GEG is part of Waterland Private Equity, which manages a global investment portfolio of over $ 11 billion.
PBIEC operates 16 competition arenas, 2,500 booths and offers participants and spectators a variety of exclusive restaurants, shops, hospitality areas and other first-class facilities. PBIEC leadership will remain intact with Mark Bellissimo as CEO, Michael Stone as chairman and David Burton as COO. The GEG initiative will initiate major investments in all areas of the facility, ensuring that PBIEC will continue to be the leading equestrian sport venue in the world with increased exposure in Europe, Asia and South America. The purchase includes an 11-acre extension of the Showgrounds. To ensure continuity, the WEP partners demanded a 50-year deed restriction on the venue that guarantees USEF and FEI sanctioned shows on the property. USEF CEO Bill Moroney commented, “As always, we are delighted to see continued investment in American equestrian sport. This significant commitment to world-class facilities, the welfare of horses and riders and USEF and FEI competitions further validates the market demand, at all levels, for organized sport. Andreas Helgstrand, co-owner and CEO of GEG added: “The Winter Equestrian Festival and PBIEC are fantastic brands in international equestrian sport. Together, we will strengthen the offering and create a global market leader, spreading our passion for equestrian sports and the lifestyle to new markets. Besides equestrian events, the Group is active in other equestrian investments, notably Helgstrand Dressage, Ludger Beerbaum Stables, Helgstrand Jewelery and the equestrian clothing and accessories company Kingsland Equestrian. At present, the total turnover of these handsets is $ 180 million.
GEG will now have event venues in the United States, Germany and Denmark. The partnership will benefit from knowledge sharing and a strengthened positioning of PBIEC within show jumping where Ludger Beerbaum Stables has a unique position on the market. In addition, the partnership allows the Group to draw on the experience of PBIEC and create a European equestrian sports events company. “Our goal is to improve equestrian sport by providing top quality venues and top level sport so that riders around the world can live out their passions and dreams. With the acquisition of PBIEC we now have the perfect setting to do so in the United States and with our current expansion of Riesenbeck International in Germany we will have two professional and attractive exhibition grounds, ”said Ludger Beerbaum, quadruple medalist. Olympic gold. in show jumping and co-owner of Global Equestrian Group. Bellissimo added: “We are delighted to collaborate with Andreas and Ludger, whose passion and commitment to equestrian sport is extraordinary. Opportunities abound to take the sport to a new level. GEG and WEP are evaluating other investment opportunities in Wellington, including a new state-of-the-art exhibition ground for the Global Dressage Festival. Bellissimo will announce a global strategy and a series of investments to elevate Wellington as the world’s premier equestrian lifestyle destination, further strengthening its international appeal. “The acquisition of PBIEC makes Global Equestrian Group a true global leader in the equestrian sports market with a solid financial base and exciting growth opportunities,” said Kaspar Kristiansen, Managing Director of Waterland Nordic.
About the Palm Beach International Equestrian Center
The Palm Beach International Equestrian Center (PBIEC) was founded by Mark Bellissimo and Wellington Equestrian Partners in 2006 and has helped transform both the sport of equestrianism and Wellington, Florida’s position as the world’s premier destination for horse enthusiasts. ‘horse riding. PBIEC organizes 40 weeks of events and manages the Winter Equestrian Festival through its management company, Equestrian Sport Productions. The 13-week Winter Equestrian Festival is the world’s largest and oldest equestrian sporting event with over 8,000 horses and participants from 50 states and 43 countries. More than 250,000 spectators attend the events. www.pbiec.com
About Global Equestrian Group
Global Equestrian Group is the world’s leading equestrian sports group based on a strategic partnership between Helgstrand and internationally renowned Ludger Beerbaum Stables, as well as Palm Beach International Equestrian Center and private equity firm Waterland. The Group has 250 full-time employees. Global Equestrian Group has dressage, show jumping and events businesses as well as jewelry company Helgstrand Jewelery and equestrian clothing and accessories company Kingsland Equestrian as well as other equestrian sports investments. www.globalequestriangroup.com
Waterland is an independent private equity investment group that supports entrepreneurs in achieving their growth ambitions. With substantial financial resources from the company’s eighth fund of 2.6 billion euros and committed sector expertise, Waterland enables the companies in its portfolio to achieve accelerated growth both organically and through acquisitions. To date, Waterland has invested in over 700 companies. Waterland consistently achieves top investment ratings among private equity firms and is the only fund to consistently feature in the top 5 of the HEC / Dow Jones Private Equity Performance rankings for 10 years. Waterland manages over € 9 billion of investor commitments and has offices in Denmark, the Netherlands, Belgium, Germany, Switzerland, Poland, France, Ireland and the UK. www.waterland.nu