Second Avenue Capital Partners Announces $15 Million Dover Saddlery Partnership to Support Strategic Growth

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Aug 06, 2024, 08:15 ET

BOSTON, Aug. 6, 2024 /PRNewswire/ -- Schottenstein affiliate Second Avenue Capital Partners (SACP), a leading provider of customized financing solutions for retail and consumer product sectors, is pleased to announce the closing of a $15,000,000 Senior Secured Revolving Credit Facility for Dover Saddlery, the premier destination for equestrian products and apparel.

The new credit facility will support Dover Saddlery's strategic growth initiatives, strengthen its ability to optimize inventory management, and underwrite improved operational efficiencies. This financing partnership reflects SACP's commitment to empowering businesses with the financial flexibility they need to thrive in a competitive marketplace.

"We are thrilled to partner with Dover Saddlery, a well-respected leader in the equestrian industry," said Marc S. Price, Executive Vice President, Corporate Development of SB360 and Second Avenue Capital Partners. "This facility underscores our dedication to supporting dynamic companies with tailored financial solutions. We are confident that this capital will enable Dover Saddlery to continue its tradition of excellence and innovation."

Founded in 1975 by former US Equestrian Team members, Dover Saddlery has built a strong reputation for providing high-quality equestrian products, exceptional customer service, and a deep commitment to the equestrian community. The company operates a robust e-commerce platform at www.doversaddlery.com alongside its 37 retail locations in 23 states, serving equestrians across the United States.

"This new credit facility is a testament to the strength of our business and the trust that Second Avenue Capital Partners has placed in us," said Dana Springfield, President of Dover Saddlery. "With this financing and support, we are well-positioned to execute our growth strategies, invest in our product offerings, and better serve our customers. We are grateful for SACP's partnership and look forward to a successful collaboration."

Second Avenue Capital Partners specializes in providing innovative financing solutions to companies across various industries. The firm's expertise in structuring flexible and creative capital solutions enables its clients to achieve their business objectives and drive long-term success.

About Second Avenue Capital Partners – Second Avenue Capital Partners, LLC (SACP), a Schottenstein Affiliate, specializes in asset-based loans for the broader retail and consumer products industry. Serving middle-market companies, SACP leverages the experience of retail operators, product merchants, and lenders to deliver customized capital solutions. A unique merchant perspective allows SACP to recognize and unlock value in assets other capital providers often overlook or do not understand. The firm's tailored financial solutions are a vital resource for clients seeking capital to effectuate strategy and achieve financial objectives. Learn more at sacp.com

About Dover Saddlery – Dover Saddlery, Inc. is the leading omni-channel retailer of equestrian products in the United States. Founded in 1975 in Wellesley, Massachusetts, by two former United States Equestrian team members, Dover Saddlery has grown to become The Source® for equestrian products.

Dover Saddlery offers a broad and distinctive selection of competitively priced, brand-name products for horse and rider through catalogs, an online platform at www.doversaddlery.com, and through 37 retail stores across the nation.

SOURCE Second Avenue Capital Partners, LLC