M&A Deal Summary

CORDENTAL Group Acquires AppleWhite Dental Partners

On June 3, 2019, CORDENTAL Group acquired healthcare services company AppleWhite Dental Partners from Tonka Bay Equity Partners

Acquisition Highlights
  • This is CORDENTAL Group’s 8th transaction in the Healthcare Services sector.
  • This is CORDENTAL Group’s 8th transaction in the United States.
  • This is CORDENTAL Group’s 1st transaction in Iowa.

M&A Deal Summary
Date 2019-06-03
Target AppleWhite Dental Partners
Sector Healthcare Services
Buyer(s) CORDENTAL Group
Sellers(s) Tonka Bay Equity Partners
Deal Type Add-on Acquisition

Target

AppleWhite Dental Partners

Dubuque, Iowa, United States
Applewhite Dental Partners is a dental services organization with locations in Iowa, Illinois, Wisconsin, and Minnesota. Over the past 10 years, Applewhite has remained at the forefront of the dental field and currently employs over 150 dentists and hygienists. Through a network of 35 offices, Applewhite offers comprehensive dental care to nearly 185,000 patients annually.

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Buyer(S) 1

Buyer

CORDENTAL Group

Cincinnati, Ohio, United States
Category Company
Sector Healthcare Services
DESCRIPTION

CORDENTAL Group is a dental support organization that provides business support services to affiliated dental practices across the Mid-Atlantic, Midwestern, and Southeastern United States. Founded upon strong guiding principles, CORDENTAL promotes a dentist-centric approach that allows dentists and their teams to concentrate on what they do best – provide the highest level of quality clinical care to their patients. CORDENTAL Group is based in Cincinnati, Ohio.

DEAL STATS #
Overall 8 of 11
Sector (Healthcare Services) 8 of 11
Type (Add-on Acquisition) 8 of 11
State (Iowa) 1 of 2
Country (United States) 8 of 11
Year (2019) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-02 John Monaco DDS

St. Louis, Missouri, United States

John Monaco DDS is a full-service dental practice providing for all dental needs. Services include cosmetic dentistry, teeth whitening, crowns, sleep apnea, Invisalign, dental implants and veneers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-20 Grant D. Hensley

Franklin, Tennessee, United States

Grant D. Hensley is a dental care company, that provides healthy, beautiful smiles in a caring and compassionate environment. Grant D. Hensley is based in Franklin, Tennessee.

Buy -

Seller(S) 1

SELLER

Tonka Bay Equity Partners

Minnetonka, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tonka Bay Equity Partners is a Midwest US-based private equity firm that targets control and non-control investments in manufacturing, business services, and value-added distribution companies with at least $2 million of EBITDA. Tonka Bay will consider a variety of transaction situations, including management buyouts, shareholder liquidity events, recapitalizations, and expansions. Tonka Bay Equity Partners was formed in 1998 and is based in Minnetonka, Minnesota.

DEAL STATS #
Overall 19 of 24
Sector (Healthcare Services) 4 of 5
Type (Add-on Acquisition) 9 of 12
State (Iowa) 1 of 1
Country (United States) 19 of 24
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Quest Events

Frisco, Texas, United States

Quest Events is a provider of pipe and drape, scenic and furnishing rental solutions to the AV, hospitality, events, bridal and exhibition industries in North America. With 27 locations across the U.S. and an office in Toronto, Canada, Quest Events partners with clients to provide creative, effective and efficient rental solutions and installation services. Quest Events was formed in 1998 and is based in Frisco, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-09 FreshPack Produce

Denver, Colorado, United States

FreshPack Produce, Inc. is a distributor and value added repackager of fresh fruits and vegetables serving retail stores, food service organizations, and wholesale customers. FreshPack Produce was formed in 2000 and is based in Denver, Colorado.

Sell -
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