The former majority owners of Palm Beach International Equestrian Center, Mark Bellissimo, Marsha Dammerman, Lisa Lourie, and Roger Smith (“the Partners”), formed a new entity called WI FL Acquisition, LLC (“the Company”) to acquire Wellington International. The Company announced today that it signed a binding agreement to acquire Wellington International from Global Equestrian Group (“GEG”). Effective upon close of the transaction, Murray S. Kessler will lead Wellington International as Chief Executive Officer.
“This is an extraordinary opportunity to invest in the existing showgrounds, undergo a major expansion, and add new executive leadership to ensure Wellington remains the premier horse sport venue for show jumping, hunters, and dressage at all levels of competition,” stated Bellissimo of WI FL Acquisition, LLC. “We are committed to long-term ownership, ensuring the showgrounds thrive in Wellington for generations to come while welcoming new riders and new families to the sport.”
“When we invested in Wellington International, we promised to take the venue to the next level, and I am happy to conclude that has been achieved. The sale is a testament to the fact that Wellington International is now ready for its next chapter,” says Andreas Helgstrand, CEO of Global Equestrian Group.
Incoming CEO Murray Kessler is the former CEO of three Fortune 500 companies, former President of the United States Equestrian Federation (USEF), former President of the North American Riders Group, father of 2012 London Olympic show jumper Reed Kessler, and stepfather to dressage rider Bebe Davis. He is a 48-year resident of Wellington where he currently resides with his wife, Sarah.
“I am excited to work with Wellington International President Michael Stone and his world class management team to capitalize on this remarkable growth opportunity,” stated Kessler. “We will immediately be seeking input from community leaders, governing bodies, exhibitors and partners as we develop and execute our plans that include significant investment for existing facility upgrades and the building of new world-class facilities on the expanded showgrounds.”
“Wellington International and its horse shows are the anchor of Wellington and a key ingredient to what makes our great community unique,” said Kessler.
Wellington International is the largest and longest-running equestrian competition series in the world, hosting 42 weeks of competition annually across the equestrian disciplines of show jumping, hunters, dressage and para-dressage and welcoming over 350,000 spectators, 15,000 horses and 7,500 competitors. Each season, Wellington International stages the Winter Equestrian Festival (“WEF”) and an array of competitions, divisions, and participants in the sport, and contributes an estimated $400+ million in economic impact to Palm Beach County.
Wellington International President Michael Stone stated, “I look forward to working with Murray and the Partners who know the business and the community so well to make Wellington International’s showgrounds the standard to which all grounds are measured.”
“For me, this is an amazing opportunity to provide the stable, long-term success we all want for the showgrounds and the community of Wellington,” concluded Lisa Lourie, Partner and also founder of SpyCoast Farm, one of the nation’s largest sport horse breeding operations. “We all want the showgrounds to be a world-class venue where we can enjoy our sport in a community we love, and our partnership is committed to making that happen.”
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