The Equine Network, a tech-enabled membership services platform to the USD130 billion US equine industry, has acquired Spalding Laboratories (Spalding), a provider of all-natural insect control services to more than 60,000 horse and animal owners on a recurring annual basis across the US.
The Equine Network, a tech-enabled membership services platform to the USD130 billion US equine industry, has acquired Spalding Laboratories (Spalding), a provider of all-natural insect control services to more than 60,000 horse and animal owners on a recurring annual basis across the US.
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 US 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,” says 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,” says Tom Spalding, President Spalding Laboratories.
Seward & Kissel LLP represented Growth Catalyst Partners and The Equine Network in connection with this transaction.
