HITS has received a majority investment from Traub Capital Partners, and will continue to operate as HITS Shows with its team in place led by CEO Tom Struzzieri, who will also maintain a significant stake in the business.
“We are proud to partner with HITS, a clear leader in the equestrian event world,” said Brian Crosby, Managing Partner of Traub Capital Partners.
“HITS’ legacy and expertise align with TCP’s philosophy and approach, and we believe we are uniquely positioned to actively support them in their strategic growth plans.”
“TCP is the ideal partner for HITS as they have a history of backing companies in the sport enthusiast industry as well as expertise in the aspirational and lifestyle categories,” said HITS CEO Tom Struzzieri.
“Our new partners will provide us with strategic capital investments and will ensure that our exhibitors and their horses are supported to the highest degree.”
The investment by TCP will allow HITS, with its 40-year history, to make improvements to all five venues with the goal of not only investing in the facilities and infrastructure, but also in elevating the level of service and hospitality.
HITS operates five venues; 46 weeks of sanctioned Hunter/Jumper competitions; six weeks of Dressage events; and 65,000 horses expected to compete in 2022. Based in Saugerties, N.Y., HITS is a national company producing horse shows in Ocala; Culpeper, Va.; Wayne, Ill, East Dorset, anVt and Saugerties.
Traub Capital Partners is a New York-based strategic private equity firm specializing in building value in consumer companies using its unique combination of investment, strategic and operational expertise as well as a culture led, engaged approach. The fund targets investments in companies with revenue between $50 and $250 million.