M&A Deal Summary

Webster Equity Partners, TriArtisan Capital Advisors and Promus Equity Partners Acquire Dover Saddlery

On June 1, 2015, private equity firms Webster Equity Partners, TriArtisan Capital Advisors and Promus Equity Partners acquired retailer Dover Saddlery for 45M USD

Acquisition Highlights
  • This is Webster Equity Partners’ 3rd, TriArtisan Capital Advisors’ 1st and Promus Equity Partners’ 1st transaction in the Retail sector.
  • This is Webster Equity Partners’ 4th, TriArtisan Capital Advisors’ and Promus Equity Partners’ largest (disclosed) transaction.
  • This is Webster Equity Partners’ 18th, TriArtisan Capital Advisors’ 4th and Promus Equity Partners’ 8th transaction in the United States.
  • This is Webster Equity Partners’ 1st, TriArtisan Capital Advisors’ 1st and Promus Equity Partners’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2015-06-01
Target Dover Saddlery
Sector Retail
Buyer(s) Webster Equity Partners
TriArtisan Capital Advisors
Promus Equity Partners
Deal Type Going Private
Deal Value 45M USD
Advisor(s) Duff & Phelps Corp.
Piper Jaffray Companies (Financial)
Bartlit Beck Herman Palenchar & Scott
Preti, Flaherty, Beliveau & Pachios (Legal)

Target

Dover Saddlery

Littleton, Massachusetts, United States
Dover Saddlery is a multichannel retailer of equestrian products in the United States. Dover offers a broad and distinctive selection of competitively priced, brand-name products for horse and rider through catalogs, the internet, and company-owned retail stores. Dover Saddlery was founded in 1975 and is based in Littleton, Massachusetts.

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Buyer(S) 3

Buyer

Webster Equity Partners

Waltham, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 6.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Webster Capital is a private equity firm that targets growth capital and buyout investments in profitable, middle-market healthcare and consumer companies. Prospective business characteristics of interest include differentiated products or services, distinctive brands, and loyal/repeat customers. Webster looks for companies generating sales of $20 to $200 million, EBITDA of $5 to $20 million, and valued up to $200 million. Webster Capital was formed in 2003 and is based in Waltham, Massachusetts.

DEAL STATS #
Overall 19 of 48
Sector (Retail) 3 of 5
Type (Going Private) 1 of 2
State (Massachusetts) 1 of 2
Country (United States) 18 of 46
Year (2015) 2 of 4
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-13 Mondetta

Winnipeg, Manitoba, Canada

Mondetta sells athletic and casual apparel under its own brands, Mondetta and MPG (Mondetta Performance Gear) as well as under private label through its customers’ brands. Its products are sold direct on their website, through retailers globally as well as through MPG branded stores in Canada and South Korea. Mondetta was founded in 1986 and is headquartered in Winnipeg, Mantibota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-18 FullBeauty Brands

New York, New York, United States

FullBeauty Brands is a comprehensive resource for plus-size women and men seeking fashion inspiration, style advice, and clothing tailored to their individual needs. Proprietary brands under the FullBeauty Brands umbrella include: Woman Within (WomanWithin.com), Roaman's (Roamans.com), Jessica London (JessicaLondon.com), swimsuitsforall (swimsuitsforall.com), KingSize (KingSizeDirect.com), BrylaneHome (BrylaneHome.com), and fullbeauty.com, an online marketplace offering a curated collection of the finest Brands, and thousands of products, the premier fashion and lifestyle destination for women sizes 12+(www.fullbeauty.com). FullBeauty Brands was formed in 1901 and is based in New York City.

Sell -
Buyer

TriArtisan Capital Advisors

Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

TriArtisan Capital Advisors is a private equity firm focused on mid-sized company investments and acquisitions. The Firm targets profitable companies with $25 to $300 million of EBITDA operating in a variety of industries including retail, business services, industrial, media, and healthcare. Prospective transaction situations include buyouts, growth equity investments, spin-offs, carve-outs, roll-ups, recapitalizations, and restructurings. TriArtisan Capital Advisors was originally established in 2002 and is headquartered in New York City.

DEAL STATS #
Overall 4 of 7
Sector (Retail) 1 of 1
Type (Going Private) 2 of 2
State (Massachusetts) 1 of 1
Country (United States) 4 of 7
Year (2015) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Form Technologies

Charlotte, North Carolina, United States

Form Technologies is a value-added niche manufacturer of small precision engineered metal die-cast components with 27 manufacturing plants in 16 countries worldwide. The company uses proprietary machine and process technology to create high complexity parts at unmatched rates. Form Technologies was formed in 2018 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-04 Mears

Orlando, Florida, United States

Mears is a provider of taxi, shuttle, luxury, and bus service in Orlando. In addition, Mears offers luxury car service in any city or airport in the world, including such popular travel destinations as Las Vegas, New York, Miami, Los Angeles, Boston, San Francisco, Dallas, or Atlanta. Mears was founded in 1939 and is based in Orlando, Florida.

Buy -
Buyer

Promus Equity Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Promus Equity Partners is a private investment firm affiliated with Promus Holdings, a multi-family office. Promus looks to fund buyouts, management buyouts, and recapitalizations as well as growth equity financings and strategic add-ons for existing portfolio companies. Sectors of interest include consumer products, food, beverages, industrial products, specialty materials, distribution, and business services. Target platform companies generally have up to $15 million of EBITDA. Promus Equity Partners was founded in 2011 and is based in Chicago, Illinois.

DEAL STATS #
Overall 8 of 27
Sector (Retail) 1 of 3
Type (Going Private) 1 of 1
State (Massachusetts) 1 of 2
Country (United States) 8 of 26
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Engineered Performance Technologies

Sycamore, Illinois, United States

Engineered Performance Technologies is a designer, marketer and fast-growing online retailer of software-enabled vehicle modification solutions that meet an automotive enthusiast's need for increased speed, power, accuracy, and visibility. Engineered Performance Technologies is based in Sycamore, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Pure’s Food Specialties

Broadview, Illinois, United States

Pure’s Food Specialties is a manufacturer of rotary and wire-cut cookies in a wide variety of customizable shapes, sizes, flavors, and packaging formats. Pure’s Food Specialties was founded in 1964 and is based in Broadview, Ilinois.

Buy -
Mergr

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Company

Legal