M&A Deal Summary

KKR Acquires Heartland Dental Care

On March 7, 2018, private equity firm KKR acquired healthcare services company Heartland Dental Care from Ontario Teachers Pension Plan

Acquisition Highlights
  • This is KKR’s 11th transaction in the Healthcare Services sector.
  • This is KKR’s 117th transaction in the United States.
  • This is KKR’s 4th transaction in Illinois.

M&A Deal Summary
Date 2018-03-07
Target Heartland Dental Care
Sector Healthcare Services
Buyer(s) KKR
Sellers(s) Ontario Teachers Pension Plan
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Weil Gotshal & Manges
Ropes & Gray (Legal)

Target

Heartland Dental Care

Effingham, Illinois, United States
Heartland Dental is the largest dental support organization in the United States, providing non-clinical administrative support services to over 840 offices and more than 1,300 supported dentists across 35 states. Heartland Dental partners with its supported dentists to deliver high quality care across the full spectrum of dental services. For more information, please visit our website at www.heartland.com and on Twitter @HeartlandDental. The company is headquartered in Effingham, Illinois.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 268 of 437
Sector (Healthcare Services) 11 of 15
Type (Secondary Buyout) 53 of 109
State (Illinois) 4 of 6
Country (United States) 117 of 194
Year (2018) 12 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-07 Heartland

Effingham, Illinois, United States

Heartland is the largest dental support organization in the United States, providing non-clinical administrative support services to over 840 offices and more than 1,300 supported dentists across 35 states. Hands of Heartland was founded in 1997 and is based in Effingham, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-12 Next Issue Media

Palo Alto, California, United States

Next Issue Media LLC is a world’s most popular magazines to life on the digital device of your choice. Texture brings over 200 of the world’s best magazines to life, providing an easy way for users to read high-quality stories and entire issues of their favorite titles. With Texture, users enjoy the magazines they know and love, while discovering new content that fits their passions and interests.

Sell -

Seller(S) 1

SELLER

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.

DEAL STATS #
Overall 38 of 71
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 12 of 20
State (Illinois) 4 of 6
Country (United States) 21 of 39
Year (2018) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-07 Heartland

Effingham, Illinois, United States

Heartland is the largest dental support organization in the United States, providing non-clinical administrative support services to over 840 offices and more than 1,300 supported dentists across 35 states. Hands of Heartland was founded in 1997 and is based in Effingham, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-22 GFL Environmental

Vaughan, Ontario, Canada

GFL Environmental is a diversified environmental services company providing a comprehensive line of solid waste, infrastructure & soil remediation, and liquid waste management services through its platform of facilities across Canada and in Southeastern Michigan. GFL has a workforce of more than 5,000 employees and provides its broad range of environmental services to more than 60,000 commercial and industrial customers and its solid waste collection services to more than 2.5 million households. GFL Environmental was founded in 2007 and is based in Vaughan, Ontario.

Buy -
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