Winston & Strawn represented Waterland Private Equity and Global Equestrian Group, while Greenberg Traurig represented Palm Beach International Equestrian Center in the transaction.
Wellington-based Palm Beach International Equestrian Center (PBIEC), one of the world’s premier equestrian facilities, announced the negotiation of a sale agreement with Global Equestrian Group, which is part of Waterland Private Equity, a global investment group with more than $11 billion in assets.
PBIEC hosts more than 40 weeks of competitions and events annually, drawing competitors and fans from around the world. It is the home of the 13-week Winter Equestrian Festival, which brings some 8,000 horses and 250,000 spectators to Wellington each year to compete for more than $12 million in prize money. The festival has an estimated economic impact of $279 million on the Palm Beach County economy.
The transaction was structured to maintain the equestrian festivals, competitions, events, as well as the existing management and operations of PBIEC, through a collaboration between Global Equestrian Group, PBIEC, and the major investors of PBIEC.
Global Equestrian Group is the world’s leading equestrian sports group based on a strategic partnership between internationally acclaimed Helgstrand and Ludger Beerbaum Stables as well as Palm Beach International Equestrian Center and private equity firm Waterland.
Waterland is an independent private equity investment group that supports entrepreneurs in realizing their growth ambitions. With substantial financial resources from the firm’s eighth fund of EUR 2.6 billion and committed industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions.
The Greenberg Traurig team was led by Corporate Shareholder Bruce C. Rosetto (Picture) of the firm’s West Palm Beach office, working with Corporate Associate Bracha Pollack, who is based in the firm’s Fort Lauderdale office.
The Winston & Strawn team included Neely B. Agin, Uri Doron, Robert B. Heller, Eleni Kouimelis, Scott E. Landau, Jared S. Manes, Becky L. Troutman, Douglas A. Yeager, Caitlin M. Baranowski, Madalyn G. Brown, Lelise A. Gobena, Maria Kenny, Samantha A. Phillips, Eric J. Shinabarger, David B. Thaxton, and T. Justin Trapp.
Involved fees earner: Bracha Pollack – Greenberg Traurig LLP; Bruce Rosetto – Greenberg Traurig LLP; Neely Beth Agin – Winston & Strawn; Caitlin Baranowski – Winston & Strawn; Madalyn Brown – Winston & Strawn; Uri Doron – Winston & Strawn; Lelise Gobena – Winston & Strawn; Robert Heller – Winston & Strawn; Maria Kenny – Winston & Strawn; Eleni Kouimelis – Winston & Strawn; Scott Landau – Winston & Strawn; Jared Manes – Winston & Strawn; Samantha Phillips – Winston & Strawn; Eric Shinabarger – Winston & Strawn; David Thaxton – Winston & Strawn; Justin Trapp – Winston & Strawn; Becky Troutman – Winston & Strawn; Douglas Yeager – Winston & Strawn;