Thoroughbred auction company Fasig-Tipton Co. Inc. has been acquired by a Dubai company for an undisclosed price.
Synergy Investments Limited is headed by Abdulla Al Habbai, a close associate of Sheikh Mohammed, the ruler of Dubai, who has long been involved in the Thoroughbred industry.
Officials with Synergy said the company plans to retain Lexington-based Fasig-Tipton’s staff and management.
“Our agreement includes an understanding that Fasig-Tipton will be operated in a manner consistent with the principles of integrity, customer service and industry service, which have been so critical to our success since controlling interest was obtained by the Hettinger family in 1991,” said Fasig-Tipton Chairman D.G. Van Clief Jr. “Those assurances were critical to John and his son Bill Hettinger, and our entire board of directors, in agreeing to this transaction.”
Founded in 1898, Fasig-Tipton is North America’s oldest Thoroughbred auction company. It currently conducts auctions in Lexington; Saratoga Springs, N.Y.; Timonium, Md.; Miami, Fla.; and Grand Prairie, Texas.