Investment Summary

Goldman Sachs Merchant Banking and Audax Private Debt Invest In Rock Dental Brands

On July 6, 2017, private equity firm Goldman Sachs Merchant Banking and mezzanine finance firm Audax Private Debt invested in healthcare services company Rock Dental Brands

Investment Highlights
  • This is Goldman Sachs Merchant Banking’s 6th and Audax Private Debt’s 3rd transaction in the Healthcare Services sector.
  • This is Goldman Sachs Merchant Banking’s 100th and Audax Private Debt’s 53rd transaction in the United States.
  • This is Goldman Sachs Merchant Banking’s 2nd and Audax Private Debt’s 1st transaction in Arkansas.

Investment Summary

Date 2017-07-06
Target Rock Dental Brands
Sector Healthcare Services
Investor(s) Goldman Sachs Merchant Banking
Audax Private Debt
Deal Type Growth Capital
Advisor(s) Deloitte (Financial)

Target

Rock Dental Brands

Little Rock, Arkansas, United States
Rock Dental Brands is a dental service organization in Arkansas and Missouri, operating orthodontic, pediatric dental, oral surgery, and general dental clinics. Focused on financial diligence, doctor collaboration, continuing education, and providing the highest quality of patient care possible, the Company grew through acquisitions and de novo clinic additions to what it is today – a fully integrated dental service organization operating four distinct brands under the Rock Dental umbrella. Rock Dental Brands was founded in 2015 and is based in Little Rock, Arkansas.

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Investor(S) 2

Investor

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 141 of 189
Sector: Healthcare Services M&A 6 of 7
Type: Growth Capital M&A Deals 18 of 30
State: Arkansas M&A 2 of 2
Country: United States M&A 100 of 130
Year: 2017 M&A 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-20 Perseus

New York, New York, United States

Perseus is a provider of managed services for high-precision, high-speed, high-performance applications. With clients spanning the Financial, Media, eCommerce and iGaming sectors, Perseus offers a fully-managed suite of services across the trade lifecycle as well as many of the world’s fastest Market-to-Market routes.

Sell $38M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-12 GCA Services Group

Cleveland, Ohio, United States

GCA Services Group, Inc. is a provider of quality facility services, including janitorial/custodial services, contamination control for cleanroom manufacturing, facilities operations and maintenance services, grounds and athletic field management services, diversified staffing, and more.

Sell $1.3B
Investor

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 54 of 120
Sector: Healthcare Services M&A 3 of 11
Type: Growth Capital M&A Deals 5 of 18
State: Arkansas M&A 1 of 1
Country: United States M&A 53 of 118
Year: 2017 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-11 Simply Good Foods

Denver, Colorado, United States

Simply Good Foods is a food company with a product portfolio consisting primarily of nutrition bars, ready-to-drink shakes, sweet and salty snacks, and confectionery products marketed under the Atkins®, Quest®, and Atkins Endulge® brand names. Simply Good Foods was formed in 1989 and is headquartered in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 Rocore

Indianapolis, Indiana, United States

Rocore is a designer and manufacturer of heat exchangers and related equipment used to cool air, water, or oil for a variety of applications. Rocore maintains five operating facilities in the USA & one outside the USA, plus multiple sales offices. Rocore supplies a wide variety of heat exchange solutions, products and services into its identified end market segments. Rocore was founded in 1984 and is based in Indianapolis, Indiana.

Sell -