Louth equestrian business Horseware secures investment

London private equity firm Lonsdale Capital makes a significant investment in Louth business Horseware Ireland.

Global producer of branded equestrian and pet products Horseware Ireland has attracted a significant investment from Lonsdale Partners, the London based private equity firm with strong Irish links.

Horseware Ireland has plans to accelerate growth and expand its market presence worldwide. Senior management, led by CEO Mark Saunders, have also invested in the company and will continue in their leadership roles.

“We have always put our deeply valued customers, consumers and horses at the centre of everything we do and I promise you that will not change”

The company was founded in 1985 by entrepreneur Tom MacGuinness and his wife Carol.  Horseware Ireland employs over 500 people globally, with annual revenues in excess of €40m and facilities that are wholly and directly owned and managed by the company in Ireland, the USA, China and Cambodia.

The company’s original and iconic Rambo turnout blanket was a revolution in the design, fit and quality of horse rugs. The original Rambo Turnout Blanket continues to be produced in Ireland and is exported around the world, to countries like the United States, the UK, Sweden, Germany, and Australia.

MacGuinness will continue as a shareholder and a director of the company.

“I welcome this investment by Lonsdale which is a great sign of confidence in the growth potential and ongoing ambition of Horseware.,” said MacGuinness.

“I am excited by the possibilities this investment will provide to bring the company to a new level. I will remain closely involved with the business as a shareholder and as company director responsible for new product development. 

“We have always put our deeply valued customers, consumers and horses at the centre of everything we do and I promise you that will not change. “

The CEO of Horseware Ireland Mark Saunders said that the company is underpinned by innovation, which has been the bedrock of its success to date.

“We are entering a very exciting new phase of development for Horseware Ireland, and this will continue to benefit our industry partners and our customers long into the future.”

Lonsdale Capital Partners was co-founded by Dubliners Ross Finegan and Alan Dargan, and UK executive David Gasparro. Finegan will join the Board of Horseware Ireland. Dargan has a strong interest in equestrian sports with horse breeding and training interests in Ireland where he owns a stud farm in Co. Kildare. 

“We have long admired the achievements and success of Horseware Ireland which has a unique heritage and a justifiable reputation for high performance equestrian products,” Finnegan said.

By John Kennedy (john.kennedy3@boi.com)

Published: 22 March 2021