M&A Deal Summary

Ares Private Equity Group Acquires Aspen Dental Management

On June 1, 2006, private equity firm Ares Private Equity Group acquired healthcare services company Aspen Dental Management, Inc. from APG Partners, Gemini Investors, Seacoast Capital and Capital Resource Partners for 91M USD

Acquisition Highlights
  • This is Ares Private Equity Group’s 1st transaction in the Healthcare Services sector.
  • This is Ares Private Equity Group’s 19th largest (disclosed) transaction.
  • This is Ares Private Equity Group’s 15th transaction in the United States.
  • This is Ares Private Equity Group’s 3rd transaction in New York.
Investment Fate
  • Aspen Dental Management was sold to a financial buyer in 2010 for 548M USD.
  • Aspen Dental Management was recapitalized in 2015.
  • Aspen Dental Management was sold to a consortium of financial buyers in 2017.

M&A Deal Summary

Date 2006-06-01
Target Aspen Dental Management, Inc.
Sector Healthcare Services
Buyer(s) Ares Private Equity Group
Sellers(s) APG Partners
Gemini Investors
Seacoast Capital
Capital Resource Partners
Deal Type Secondary Buyout
Deal Value 91M USD

Target

Aspen Dental Management, Inc.

East Syracuse, New York, United States
website
Aspen Dental Management, Inc. is a dental practice management company that executes a unique retail healthcare delivery model focused on providing affordable, high-quality and comprehensive dental services.

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Buyer(S) 1

Buyer

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.


DEAL STATS #
Overall 16 of 84
Sector (Healthcare Services) 1 of 7
Type (Secondary Buyout) 4 of 34
State (New York) 3 of 7
Country (United States) 15 of 73
Year (2006) 2 of 5
Size (of disclosed) 19 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-24 CR Brands, Inc.

West Chester, Ohio, United States

CR Brands, Inc. is a manufacturer, marketer, and sells branded laundry products (Biz and Oxydol) and heavy-duty household cleaning products under the nationally branded names Mean Green, Magnum Power, and Pine Power. CR Brands was established in 2000 and is based in West Chester, Ohio.

Buy $99M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-12 WCA Waste Corp.

Houston, Texas, United States

WCA Waste Corp. is a full service, non-hazardous solid waste company providing collection and disposal services to commercial, industrial and residential customers.

Buy -

Seller(S) 4

SELLER

APG Partners

San Juan Capistrano, California, United States

Investor

website


Category Private Equity Firm
Founded 2004
SizeSmall
Type Sector Agnostic
DESCRIPTION

APG Partners is a West-Coast US-based private equity firm that provides financing for recapitalizations and growth. APG will consider both majority and minority positions, seeking to commit $1 to $10 million of equity capital per transaction. Depending on the type of investment, prospective companies should be breakeven and have at least $10 million in annual revenue. APG's industry focus includes healthcare services, business services, financial services, consumer products, and manufacturing. Prospective opportunities are typically located in the Western US. APG Partners was formed in 2004 and is based in San Juan Capistrano, California.


DEAL STATS #
Overall 2 of 3
Sector (Healthcare Services) 1 of 1
Type (Secondary Buyout) 2 of 3
State (New York) 1 of 1
Country (United States) 2 of 3
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-01 Aspen Dental Management, Inc.

East Syracuse, New York, United States

Aspen Dental Management, Inc. is a dental practice management company that executes a unique retail healthcare delivery model focused on providing affordable, high-quality and comprehensive dental services.

Buy $19M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-10 EM Assist, Inc.

Folsom, California, United States

EM-Assist, Inc. is government’s trusted partner for environmental program management, technical support, and training solutions. The company helps clients cost-effectively address their most challenging environmental compliance, information management, conservation and planning, and restoration needs. EM-Assist also helps clients deliver the right training to the right people at the right time by blending custom eLearning courseware with instructor-led training, and by providing efficient training program administration through powerful, easy-to-use learning management systems. EM-Assist, founded in 1996, is headquartered in Folsom, CA and has 120 professionals in multiple offices throughout California, Utah, and Colorado.

Buy -
SELLER

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 650M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 5 of 38
Sector (Healthcare Services) 1 of 7
Type (Secondary Buyout) 1 of 11
State (New York) 1 of 2
Country (United States) 5 of 38
Year (2006) 2 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-28 Scotia Technology

Laconia, New Hampshire, United States

Scotia Technology is a designer and manufacturer of small-diameter precision fixed tubular components for the aerospace and defense industries primarily to transfer fuel, oil, air, water, and hydraulic fluids.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-22 Pinnacle Treatment Centers, Inc.

Pittsburgh, Pennsylvania, United States

Pinnacle Treatment Centers, Inc. is a comprehensive provider of substance abuse treatment services to individuals that are addicted to drugs and / or alcohol. Pinnacle Treatment Centers was founded in 2006 and is based in Pittsburgh, Pennsylvania.

Buy -
SELLER

Seacoast Capital

Danvers, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1994
PE ASSETS 600M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Seacoast Capital is a private investment firm that invests equity and mezzanine capital in smaller companies with revenues greater than $10 million and at least $2 million in operating income. Sectors of interest include manufacturing, distribution, business services and industrial technologies. Seacoast has a particular interest in companies located in underserved urban and rural markets, and in all cases, partners with management when considering transactions. Seacoast Capital was formed in 1994 and has offices in Danvers, Massachusetts and San Francisco, California.


DEAL STATS #
Overall 4 of 20
Sector (Healthcare Services) 1 of 2
Type (Secondary Buyout) 2 of 7
State (New York) 1 of 3
Country (United States) 4 of 20
Year (2006) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-31 Global Employment Solutions, Inc.

Littleton, Colorado, United States

Global Employment Solutions, Inc. provides Information Technology and Professional staffing services in the commercial and government markets under the brands Fahrenheit IT, ITEC and Global Employment Solutions. GES employs over 1,500 professionals with office locations in 13 markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-10 eFashion Solutions LLC

Secaucus, New Jersey, United States

eFashion Solutions is a leader in e-commerce operations for designer, luxury and celebrity fashion brands. eFashion Solutions is a comprehensive turn-key outsourced e-commerce systems and service provider that has been successful in creating profitable flagship web-stores for global consumers by accepting 12 currencies and marketing in six different languages. The Company’s clients include leading brands such as Baby Phat, DKNY, House of Dereon, Judith Lieber, Phat Farm, Rafe, Rocawear and XOXO as well as enabling commerce for online media properties such as Billboard.

Buy -
SELLER

Capital Resource Partners

Wellesley, Massachusetts, United States

Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 1.1B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Capital Resource Partners (CRP) is a provider of debt and equity capital to lower middle-market companies throughout the United States. CRP typically provides $1 to $15 million of junior capital to support 'late-stage expansion, recapitalization, and incremental acquisition investments'. Target companies are generally profitable with at least $5 million in annual sales. Sectors of interest include business services, consumer products and services, healthcare services, proprietary industrial products and services, and software/information services. Capital Resource Partners was formed in 1987 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 11 of 33
Sector (Healthcare Services) 3 of 5
Type (Secondary Buyout) 2 of 6
State (New York) 1 of 1
Country (United States) 11 of 31
Year (2006) 3 of 5
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-06 CommercialWare, Inc.

Natick, Massachusetts, United States

CommercialWare, Inc. is a order management applications for multi-channel retailers.

Sell $13M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-06 The Richardson Co.

Philadelphia, Pennsylvania, United States

The Richardson Co. is a provider of sales training and consulting firm. The Richardson was founded in 1979 and is based in Philadelphis, Pennsylvania.

Sell -