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Horse racing bible gets a new owner

AP Photo/Charlie Riedel

Private equity firm Z Capital Partners has acquired the parent company of Daily Racing Form, which has been covering horse-racing for more than 100 years.

History: Private equity firm Arlington Capital Partners bought Daily Racing Form in a secondary buyout for a highly-levered $170-$190 million in 2007. But it never really could pull off the digital transformation so, several years back, it defaulted and control went to the banks. Z Capital first looked four or five years ago during an initial auction process that never got consumated, and got a call when the banks restarted the process several months ago.