CVC announced it has agreed to acquire a controlling stake in Equine Network, describing the business as the largest for-profit equestrian-based sports league in the U.S. The stake is being acquired from Growth Catalyst Partners, and the deal is expected to close in Q2 2026, subject to customary regulatory approvals.
The transaction marks the first new league investment for CVC’s Global Sport Group (GSG), a platform established in 2025 that holds stakes in eight leagues and competitions across CVC funds. CVC said GSG’s current portfolio includes La Liga, Ligue 1, the Women’s Tennis Association, Volleyball World, and three rugby competitions: Six Nations Rugby, Premiership Rugby, and United Rugby Championship.
CVC positioned Equine Network as a complementary addition, expanding GSG’s U.S. market footprint and introducing a new sport and scale. Equine Network, founded and led by CEO Tom Winsor, has built a commercial platform in what CVC described as an approximately $2.5 billion U.S. equestrian-based sports market, consolidating amateur and semi-professional competitions across Western and English disciplines.
CVC said Equine Network’s business includes roughly 40 owned-and-operated competitions and more than 800 sanctioned third-party events, with revenues generated primarily from events, league-level adjacencies, and member services. CVC also highlighted GSG’s model of long-term revenue visibility through multi-year media rights, sponsorship, data, and other commercial agreements, and said GSG revenues are expected to grow at approximately 10% per annum over the next five years.
Following completion, Michelle Wilson and George Barrios, GSG directors and former Co-Presidents of WWE, are expected to become Co-Chairs of Equine Network and work with Winsor and the management team on the company’s growth strategy. CVC was advised by Lazard, while Growth Catalyst Partners and Equine Network were advised by William Blair.
KEY QUOTES
“We are excited to partner with CVC and Global Sport Group at a pivotal stage in Equine Network’s development. CVC’s track record in building and scaling global sports platforms, combined with the expertise of the GSG team, makes them ideal partners as we look to expand our leagues, enhance fan engagement and data capabilities, as well as unlock new commercial opportunities for the benefit of our members and stakeholders.”
Tom Winsor, Chief Executive Officer of Equine Network
“Having spent recent months working closely with Tom and his team, we are highly impressed by the business they have built. Equine Network has an attractive position in a large, participation-led equine sports market and is well positioned to benefit from GSG’s value creation capabilities. We look forward to supporting Tom and his team in their continued development and growth.”
Michelle Wilson and George Barrios, GSG Directors
“The creation of Global Sport Group was driven by our conviction that premium sports leagues benefit from long-term, specialist ownership and collaboration. CVC’s investment experience in sports spans over twenty years and, while much has changed in that time, sports IP remains a very attractive opportunity in which we continue to see significant potential for further innovation and growth. We are delighted to be partnering with Equine Network and welcome the business to Global Sport Group.”
Gemma Wright, Partner at CVC
