
Where have all the horses gone? O.C. fair officials vow a return, but some are skeptical
Horses figure prominently in marketing for the Ranch Community Center — the new brand and concept for the O.C. fairgrounds' Equestrian Center — but appear to be missing from the complex's strategic plan and the grounds where they used to flourish.
A billboard for the nascent center, erected on the northwest corner of the Costa Mesa property, depicts a trio of stabled horses, while a photo gallery on the Ranch's website shows a facility bustling with people, resident animals and activity.
However, the same 7-acre site that once teemed with up to 100 equines and their owners, many of them trainers who offered paid lessons as well as workshops, therapy sessions and rides for the broader community, now sits largely vacant as sandy arenas remain untrod.
Fair spokeswoman Terry Moore confirmed Thursday that five individuals are boarding six horses in five stalls. No trainers are currently working at the site.
The vacancy follows a bitter legal dispute between fairgrounds operators and equestrians over the terms, tenancy and management of the center in recent years and comes as Orange County Fair & Event Center officials build out the space with more public-facing programs under the newly rebranded Ranch concept.
But while the mainstay of equestrian tenants have left the building, and as lawsuits continue to wend their way through the courts, those who want to see horses have a strong presence at the fairgrounds continue to make their voices heard.
Center officials on Thursday considered public feedback submitted in response to a draft of a strategic plan, submitted to the board in January, which highlights the mission, vision and objectives of the center through 2029.
The 12-page plan identifies innovation, stewardship, operational excellence and visitor experience as primary objectives for the center and mentions the expansion of programs at the Ranch. But the document contains no explicit reference to horses or the reinvigoration of equestrian activities there.
While no public outreach meetings were held, citizens were asked to submit comments through an online survey. Among 505 responses submitted, 447, nearly 89%, specifically pertained to keeping horses and equestrians thriving at the fairgrounds.
'The OC fair has a duty to preserve the historical equestrian community here in Costa Mesa,' wrote a local resident named Madison. 'This new plan should include reasonable boarding for the local public to board their horses at a well kept facility (with improved facilities) and equestrian trainers who maintain lesson programs.
'Without the knowledge and life long experience of local horse trainers you cannot be successful — they are a key part of running a clean, safe, and enjoyable equestrian facility.'
'No equestrian center mentioned in the Strategic Plan? WHY?' wrote Alexis of Costa Mesa. 'Put it back in there. You board members are ruining a once vibrant community of people where 12-year-olds rode with 70-year-olds and friendships developed over a common interest — horses. Thousands of people have enjoyed their time out there over the years. Please support it and include it in your strategic plan.'
A previous strategic plan, covering operational objectives from 2022 through 2024, contained two pages specific to the Equestrian Center. It described numerous goals, such as hiring a supervisor, developing a revenue-generating horse show and working with nonprofit groups to provide free or low-cost riding lessons.
Gibran Stout — a local equestrian ousted from the center for refusing to pay increased rental fees who is involved in litigation against the OC Fair & Event Center— criticized officials Thursday for not involving the public in plans for the Ranch.
She, too, asked Center directors to specify objectives in the strategic plan and involve the community in creating robust equine programs at the site.
'When you have 90% of the people saying they want something, let's do it. Those responses from the public were from all the public. We're all the public, we're all the community. Listen to 90% of your feedback.'
Board President Nick Kovacevich said he didn't see anything in the comments that haven't already been incorporated into plans for the Ranch.
'The good news is, it sounds like we've already listened to them and we've already incorporated that, so they can essentially rest assured it's moving in the right direction that they want,' he added.
'I hear from members of the public, they're significantly uninformed or there's even been, maybe, misinformation they've picked up on,' Kovacevich continued. 'If you've attended any board meeting in the last year and a half, you know the topic of losing the Equestrian Center has come up, and every time it's actually the board demanding that we reinvigorate that center and the grounds and add more programming.'
Director Barbara Bagneris also expressed astonishment over the tenor of the comments.
'This seems more about semantics to me. We used to call it the Equestrian Center and now we call it the Ranch — the same activities are going to happen at the Ranch but more expanded for the community. Maybe that's the confusion?' she posed.
In a follow up interview Friday, fairgrounds spokeswoman Moore accredited the low census at the stables to the fact that trainers, who often board numerous horses for programs, have vacated, leaving only a handful of owners with fewer wards.
Moore further said initial occupancy plans focused on boarders, whose contracts and agreements are more straightforward than ones for those who conduct lessons and services at the site, and said officials will soon roll out a plan for inviting area trainers to the Ranch.
'Trainers bring in horses and fill stalls. [And] right now we don't have trainers there,' she said. 'The Ranch Community Center is the new plan, and we've moving forward with that plan. Exhibits are being built, and partners are coming in — we're getting there.'

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Associated Press
3 days ago
- Associated Press
Global Polymer Revolutionizes Polymer Manufacturing with Proprietary Custom-Molding Technology for UHMW-PE
MADISON, SD / ACCESS Newswire / June 19, 2025 / Global Polymer, a leading innovator in polymer manufacturing, has unveiled a proprietary new method for custom-molding Ultra High Molecular Weight Polyethylene (UHMW-PE), setting a new industry standard in what is possible with this high-performance material. Traditionally, UHMW-PE is supplied in sheet form and then fabricated, limiting the design flexibility available to engineers and manufacturers. Global Polymer's breakthrough process enables the company to custom mold UHMW-PE into complex, high-strength components with varying thicknesses and integrated features, giving OEM companies across various industries new freedom to design for performance, durability, and cost efficiency. 'UHMW-PE is already a game-changing material-offering self-lubricating properties, extreme durability, and resilience across temperature fluctuations,' said Todd Huntimer, President for Global Polymer Industries. 'Now, with our proprietary molding technology, we are opening up an entirely new world of design possibilities. We can mold in fasteners, metal inserts, variable wall thicknesses, and geometries that were previously impossible with traditional fabrication methods.' The new capability is already transforming applications in industries such as: With Global Polymer's technology, engineers can now specify molded UHMW-PE components that perform better, last longer, and simplify assembly without sacrificing the inherent advantages of this versatile polymer. 'This is more than a materials innovation,' added Huntimer. 'It's a manufacturing revolution. We are enabling OEMs to achieve part consolidation, lightweighting, corrosion resistance, and extended wear life with a single custom-molded component.' The company is actively working with OEM partners to develop custom UHMW-PE solutions that deliver tangible performance and cost benefits. About Global Polymer Global Polymer is a leading manufacturer specializing in innovative UHMW-PE solutions for demanding applications across a wide range of industries. With its proprietary compression molding technology, the company is redefining what is possible with UHMW-PE-providing engineered components that outperform traditional materials. For more information or to discuss custom-molded UHMW-PE solutions, visit or contact media and PR coordinator, Emily Sorenson (605) 331-2155 or [email protected] SOURCE: Global Polymer Industries press release
Yahoo
6 days ago
- Yahoo
Neinor launches €1,070mn Tender Offer for AEDAS, redefining the residential real estate landscape
Castlelake, owner of a 79% stake in AEDAS, has signed an irrevocable agreement to sell its stake to Neinor for €24.485/sh (€21.335/sh post div.) Acquisition of a premium portfolio with c.€2bn GAV (c.20,200#) at a c.30% NAV discount Conservative underwriting targeting a +20% IRR and 1.8x MOIC, implying significant de-risking and acceleration of Neinor's Strategic Plan 2023-27: Highly accretive transaction, driving €150mn Earnings uplift over 2025-27 (+40% vs Strategic Plan target and c.+25% on EPS), and over c.€300mn of additional profits for 2028-30 Adds c.€900mn FCF over 2025-30 and allows to boost shareholder remuneration with c.€500mn to be distributed over 2025-27 (+44% vs target and c.+30% on DPS) Yet Neinor will maintain a conservative leverage profile with 20-30% LTV given the equity efficient structure of the transaction Strategically, this transaction takes Neinor to the next level, positioning the company as one of the leading European Homebuilders backed by a sizable, high quality land bank (c43,200#) in one of the safest residential markets worldwide The transaction is structured as a voluntary tender offer addressed to 100% AEDAS's shareholders which will be submitted for authorisation by the Comisión Nacional del Mercado de Valores (CNMV) Neinor Homes ('Neinor', today announced a fully backed €1,070mn tender offer to acquire 100% of the share capital of AEDAS Homes ('AEDAS'), executing a bold play to consolidate leadership in Europe's most dynamic housing market. As part of the offer, Castlelake, owner of 79% of AEDAS, has entered into a hard irrevocable agreement to tender its entire stake in the tender offer, providing strong deal visibility and execution certainty. The offer price negotiated with Castlelake values AEDAS at €24.485/share (€1,070mn equity value), with an adjusted acquisition price of €21.335/share after accounting for the €136mn dividends recently announced by AEDAS to be paid in July 2025. The transaction is backed by c.€1.25bn in committed capital injected into a new SPV fully owned by Neinor: c.€500mn in equity supported by Neinor between cash (€275mn) and a capital raise (€225mn) fully underwritten by the company's largest shareholders (Orion, Stoneshield and Adar), and c.€750mn through senior secured notes fully subscribed by funds managed, advised or otherwise controlled by Apollo. The proceeds from the senior secured notes will be used to fund the takeover, as well as to partially refinance certain existing corporate indebtedness of AEDAS and its group. In order to provide certainty of execution to the parties, Neinor has entered into a standby volume underwriting letter with Banco Santander, S.A. and J.P. Morgan SE, under which Banco Santander and J.P. Morgan have agreed to volume underwrite an amount of up to €175mn on a standby basis, on terms customary for this type of agreements. This structure ensures that Neinor's liability is strictly limited to its committed capital, preserving the company's financial flexibility while maintaining a conservative LTV in the region of 20-30%. Completion is subject to CNMV's approval, obtaining other requisite regulatory authorizations and shareholder approval, with closing anticipated in Q4 2025. Strategic acquisition of c.20,200# high-quality portfolio at c.30% NAV discount The acquisition of AEDAS represents a unique opportunity for Neinor to grab a sizable, yet cherry-picked portfolio comprising c.20,200# located across Spain's most dynamic regions. Approximately 50% of the portfolio is concentrated in Madrid, the country's largest and most liquid residential market. Beyond its quality, AEDAS' portfolio offers a high degree of execution certainty with 13.809# under production, 9,049# either under construction or already completed and c.3,700# already pre-sold for €1.7bn in future revenues. The execution embedded provides high visibility on near-term cash flow generation enabling a swift recovery of invested capital in just 3 years and significantly de-risking the transaction from day one. Furthermore, AEDAS portfolio has been conservatively underwritten at a c.30% NAV discount reflecting Neinor's highly disciplined investment strategy. This implies an acquisition price of c.€1,000/sqm for the whole portfolio and €634/sqm for its land bank, reinforcing the strong upside potential embedded in the transaction. Highly accretive transaction to boost profits, dividends and shareholder returns in the short, medium and long term Neinor has delivered a flawless execution across the first two years of its 2023–2027 Strategic Plan, with strong performance in its core pillars: shareholder remuneration and equity-efficient growth. On the first pillar, shareholder remuneration, Neinor initially targeted €600mn in shareholder distributions by 2027 and, so far, has already delivered €325mn, representing 60% of the target. This was driven by: €325mn in build-to-rent portfolio disposals over the past two years A disciplined halt in land acquisitions through most of 2023–24 Solid profitability and cash generation from its core development business Following the announced transaction, Neinor has upgraded its shareholder return target to approximately c.€850mn by 2027, a 44% increase with dividend per share (DPS) rising from €7.1 to €9.4 (+c.30%). Of the new target, c.€850mn, there are roughly €500mn pending to be distributed over the next c.3 years, whilst maintaining a conservative leverage profile with LTV to remain between 20-30%. On the second pillar, equity efficient growth, set a target of €1bn in new investments, of which €500mn would be raised from third-party investors through its asset management platform targeting IRRs above 20%. Up until now, the company has already raised €1.2bn and deployed nearly €900mn, exceeding its initial goals. In the aftermath of this transaction, Neinor is revising upwards its net income target for 2023-27 to approximately €510mn, a 40% increase from the original €360mn. On an earnings per share basis, EPS expected is now c.€5.9, up from €4.8 before, a 25% increase. Accordingly, the company is now targeting a 15-20% ROE, above its initial objective of c.15% - on ROTE the company is now targeting 20-25%, above its initial objective of c.20%. Strengthen Neinor's position as Spanish leading residential platform The acquisition of AEDAS represents the largest M&A transaction in the sector over the last decade and pushes Neinor to strengthen its position as the Spanish leading platform with capacity to build and develop c.43,200# in the coming years. The acquisition by Neinor also means that AEDAS' important residential platform remains under the control of a Spanish listed company in a strategic sector, reinforcing long-term alignment with the national housing market priorities. Even though the Spanish market is, and will continue to be, highly fragmented, post transaction Neinor will emerge as the largest and most diversified residential developer in the country, uniquely positioned to operate at scale across all key regions and housing segments while providing an effective answer and solution for the much-needed housing supply in the country. Beyond size, this platform brings together the best teams and professionals in the sector, combining years of operational excellence, local expertise, and leadership in sustainable and community-focused development. This powerful union strengthens our ability to execute across the full housing spectrum - from premium developments to social and affordable housing, from build-to sell to traditional build-to-rent or new living assets such as flex living, co-living and independent senior living - at the highest standards of quality and efficiency. As the newly formed market leader, we are building the go-to platform for institutional capital seeking exposure to the Spanish residential market. Whether through public markets or private partnerships with Neinor's Asset Management division, investors will now have a single, scaled, professionally managed vehicle through which to invest in the long-term strength of Spain's solid housing fundamentals, demographic growth, and deep demand for quality housing. Borja García-Egotxeaga, Neinor Homes' CEO comments that: 'This is a once-in-a-cycle opportunity to reshape the Spanish residential market. The combination of two best-in-class platforms comes at a pivotal moment - capitalizing on optimal market conditions and positioning Neinor as the go-to platform for institutional investors - both private and public, seeking exposure to the strong fundamentals of Spain's housing sector. With enhanced scale, geographic reach, and product depth, this transaction firmly establishes our leadership across all key segments of the market. But this deal is not just about size and scale - it is also highly accretive, with earnings per share expected to grow by 25% through 2027, underscoring the compelling value creation for our shareholders.' Jordi Argemi, Neinor Homes' Deputy CEO and CFO says: 'This is pure value creation. We've acquired over €3bn in high-quality assets at attractive prices across three landmark M&A deals - Quabit, Habitat and now AEDAS. This transaction alone adds €450mn in earnings potential, is fully funded, and delivers a +20% IRR. It's a textbook case of disciplined, accretive growth -and a clear proof point of what this team can execute across the cycle.'-ENDS- About Neinor Homes Neinor Homes is the leading residential property developer in Spain, with a land bank to develop c.12,000 homes, and a GAV to December 2024 of €1.5bn. This land bank is located in some of the fastest growing regions with the best economic fundamentals in Spain: Madrid, Western and Eastern Andalusia, Levante, Basque Country and Catalonia. Neinor is a fully integrated and well-established residential platform of scale in Spain, covering the entire development value chain from land buying, planning and urban management, product design, delegated development and construction, sales and marketing and rentals. We are committed to creating and delivering attractive risk adjusted returns for shareholders through our disciplined capital allocation strategy and our excellence in operations and risk management. We are the only listed residential property developer with a multi-sector strategy to market in Spain, and our strategies include Build-to-rent (BTR); Build-to-sell (BTS); and the largely untapped senior living rental market in Spain, which we are progressing. Neinor's operational excellence, investment strategy and results achieved since 2019 have enabled us to deliver on our 5-year business plan, launched in March 2023, in a sustainable and capital-efficient manner. This plan combines a €600mn shareholder remuneration plan and an investment of €1bn in new opportunistic land acquisitions, half of which are expected to be undertaken in joint ventures with strategic partners through co-investment agreements, with a +20% IRR target. We offer shareholders attractive risk adjusted returns in a country where there are strong and sustainable supply and demand fundamentals and supported by a resilient macroeconomic environment and outlook. Spain remains one the most attractive and safest residential markets worldwide, with one of the lowest ratios of new supply per capita globally since more information: NEINOR HOMESInvestor Relations H/ADVISORS MAITLANDNeinorHomes@ David Sturken +44 7990 595 913 Billy Moran +44 7554 912 008
Yahoo
6 days ago
- Yahoo
TekniPlex opens facility in Wisconsin
TekniPlex Healthcare has initiated production at its newly established 200,000ft² facility in Madison, Wisconsin. Located at 6002 Femrite Drive, this site is expected to enhance the company's Barrier Protection Systems business. According to the company, the new location seeks to merge manufacturing technologies with expertise in materials science. This strategy aims to broaden capabilities and improve access to protective solutions throughout North America and internationally. This facility will help boost TekniPlex Healthcare's support for medical device and pharmaceutical firms. It is designed to ensure 'reliable' access to sterile barrier packaging for hospitals, outpatient surgical centres, laboratories, and patients, stated the company. The Madison plant has received ISO 13485:2016 quality management system certification. As TekniPlex Healthcare's second site in Madison, it will concentrate on creating coated and printed solutions. These products are crucial for safeguarding medical devices and wound care products from contaminants, ultimately enhancing patient outcomes. The new plant is equipped with modern manufacturing infrastructure, including an air knife coater, added the company. This machinery will help the company boost the supply of coated Tyvek and heat-seal coated reinforced papers for various sterilisation barrier applications. Furthermore, the facility features a wide-width eight-colour high-definition flexographic printing press. This technology enables TekniPlex Healthcare to fulfil stringent healthcare printing requirements while maintaining a near-zero waste manufacturing process. Sustainability is a primary focus for the new facility, which has adopted an eco-friendly design approach. The company states that at least 95% of the waste produced by the facility is recyclable. Looking forward, the facility has plans for future expansion opportunities. These include the addition of a second flexographic printer, a cantilevered slitter rewinder, and a reversible salvage rewinder. TekniPlex Healthcare CEO Suj Mehta said: 'Our new flagship facility exemplifies TekniPlex Healthcare's mission of improving patient care through solutions that protect, preserve, and perform. The products manufactured here directly impact patients' lives. 'As a dedicated hub, the site not only expands our capacity and provides customers with supply chain assurances, but also serves as a knowledge base to build upon and maximise our leadership in barrier protection materials science.' In October 2024, TekniPlex Healthcare introduced its new bio-based medical-grade polyvinyl chloride compounds. "TekniPlex opens facility in Wisconsin" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data