Dover Saddlery, Wellesley’s top source for equestrian products, has announced that it will be acquired by Webster Capital for $8.50 per share, taking the publicly owned company private.
The company was founded in Wellesley in 1975 by brothers Jim and David Powers, who were top-ranked English riding champions on the U.S. Equestrian team. Jim Powers was also a member of the 1972 U.S. Olympic equestrian team.
Located at 595 Washington St., a couple of doors down from Blue Ginger and across the street from Belclare, the shop offers one-stop shopping for breeches, helmets, gloves, spurs, and all other horsey needs. The company has 26 additional locations.
Webster Capital, founded in 2003, is a private equity firm with over $600 million of committed capital. The company primarily invests in the branded consumer and healthcare services industries.
A representative at Dover Saddlery said that it will be business as usual at the store, and no name change or change of address will be forthcoming. Just tradition as usual for all ladies and gentlemen who need to be kitted out for the show ring or just a country canter.
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