Founded

Dover Saddlery opens in Wellesley, MA

Founded by US Equestrian Team members Jim and David Powers. Grows into the dominant national omnichannel retailer for English equestrian products.

IPO

Dover lists on NASDAQ at $10 per share

Dutch auction IPO through WR Hambrecht. Priced at the low end of the range, signaling weak public market demand. Trades as DOVR for nine years.

PE acquisition 1

Webster Capital takes Dover private at $8.50/share

Approximately $100M deal. $8.50 per share is below the 2006 IPO price of $10. Dover exits public markets after nine years. Webster partners with QIC for equity financing.

PE acquisition 2

Promus Equity + TriArtisan acquire from Webster

$15M raised. Promus is a Chicago multi-family office. TriArtisan is a New York PE firm. A WEC Ocala flagship is subsequently announced for 2026 but has not yet opened.

Debt facility

$15M credit facility from Schottenstein affiliate

Second Avenue Capital Partners, affiliated with Schottenstein, closes a $15M Senior Secured Revolving Credit Facility. Framed publicly as supporting strategic growth. Schottenstein is known for retail liquidation.

Transaction in progress

Dover pursuing new owner or strategic partner

In vendor communications dated April 14, 2026, Dover acknowledges outstanding invoices and confirms a transaction is in progress. Approximately 30 stores remain open. WEC Ocala flagship not yet opened. No public announcement made. Third ownership change in eleven years if completed.