GCP backs Equine Network’s acquisition of Spalding

Growth Catalyst Partners provided financing to support The Equine Network's acquisition of Spalding Laboratories.

Growth Catalyst Partners provided financing to support The Equine Network’s acquisition of Spalding Laboratories. No financial terms were disclosed. Seward & Kissel LLP represented Growth Catalyst Partners and The Equine Network in connection with this transaction. Spalding is a provider of all-natural insect control services.

PRESS RELEASE

Boulder, CO, February 10, 2021: The Equine Network (“Equine Network”), the market leading tech-enabled membership services platform to the $130 billion U.S. equine industry, has acquired Spalding Laboratories (“Spalding”), a leading provider of all-natural insect control services to more than 60,000 horse and animal owners on a recurring annual basis across the U.S. The acquisition was completed with financial support from mid-market private equity firm Growth Catalyst Partners (GCP), terms were not disclosed.

The acquisition of Spalding serves as a key growth driver to expand Equine Network’s membership services offerings, adding a suite of additional high-value products and services to the same target end-customers, and bringing with it, best-in-class technology to power membership marketing, management, and delivery of services. With Spalding, Equine Network serves more than 200,000 active members across the U.S. equine industry on a recurring annual basis. Equine Network’s offerings include member-only competitions, roadside assistance, insect control, online learning, and other proprietary content. Equine Network will continue to build and acquire additional services and solutions to enable its current and future members to more easily enjoy and participate in the equine industry.

Founded in 1977, Spalding Laboratories, has become the industry leading provider of all-natural biological and botanical insect control solutions for horses, as well as livestock and pets. In 2002, Tom Spalding, a successful serial entrepreneur, took over the business from his mother, and has helped to grow membership from 3,700 to more than 60,000 customers annually. Spalding was a pioneer in the direct-to-consumer model, and with Tom’s leadership, successfully evolved from a direct mail catalog business into one of the most sophisticated, digital marketing and membership services firms in the equine industry.

“I have known Tom Spalding, and the Spalding Laboratories’ team and business for many years now and have always seen a very clear fit with the Equine Network’s long term growth strategy,” said Tom Winsor, President and CEO of The Equine Network. “We’re excited to work with Tom and his team to fully integrate and streamline his business with ours, and to continue building the top membership services platform serving the equine industry.”

As part of the acquisition, Tom Spalding, will continue to be involved in a day-to-day capacity with strategic initiatives, marketing and new product development. All other Spalding team members will be retained and focused on driving continued membership growth across all Spalding services, and growing several all-natural product lines across various digital and in-person channels.

“The synergy between Equine Network and Spalding Labs is enormous. Not surprisingly, both companies’ products are recurring revenue oriented, as we have shared that same vision long before this acquisition. The additional reach that Equine Network provides for Spalding’s non-toxic insect control products is significant. In return, our software expertise, catalog and digital marketing capabilities will likewise allow Equine Network to take full advantage of their fast growing equine membership base,” said Tom Spalding, President Spalding Laboratories.

About Spalding Laboratories
Spalding Laboratories is the industry leader in non-toxic insect control products and services. It offers biological and botanical, non-toxic natural insect control services on a recurring annual basis for members who own horses, as well as livestock and pets. Spalding Laboratories products and services are known to work as well as, or better, than synthetic pesticide alternatives. For more information, visit www.spalding-labs.com.

About The Equine Network
The Equine Network’s membership services are designed to entertain, support and inform the equine community, and include unique tech-enabled services for horse owners, live equestrian events, innovative content, and engaging digital experiences.

About Growth Catalyst Partners
Growth Catalyst Partners (“GCP”) is a middle market private equity firm focused on information, marketing, and tech-enabled services businesses. GCP’s strategy involves targeting growth segments of industries and identifying market-leading companies with breakout potential. GCP partners with top executives within those industries and provides capital and expertise to the incumbent management teams of the targeted businesses. GCP was founded by veteran private equity investor Jim TenBroek and leading investment banker Scott Peters, who have led hundreds of transactions and successful investments in services businesses for over 20 years. For more information, visit www.growthcatalystpartners.com.