M&A Deal Summary

Leonard Green & Partners Acquires Aspen Dental

On May 27, 2010, private equity firm Leonard Green & Partners acquired healthcare services company Aspen Dental from Ares Private Equity Group for 548M USD

Acquisition Highlights
  • This is Leonard Green & Partners’ 1st transaction in the Healthcare Services sector.
  • This is Leonard Green & Partners’ 21st largest (disclosed) transaction.
  • This is Leonard Green & Partners’ 29th transaction in the United States.
  • This is Leonard Green & Partners’ 4th transaction in New York.
Investment Fate
  • Aspen Dental was recapitalized in 2015.
  • Aspen Dental was sold to a consortium of financial buyers in 2017.

M&A Deal Summary

Date 2010-05-27
Target Aspen Dental
Sector Healthcare Services
Buyer(s) Leonard Green & Partners
Sellers(s) Ares Private Equity Group
Deal Type Secondary Buyout
Deal Value 548M USD

Target

Aspen Dental

East Syracuse, New York, United States
Aspen Dental is a multi-vertical retail healthcare support organization. TAG offers a full range of essential business support services to consumer healthcare brands under the Aspen Dental, Chapter Aesthetic Studio, ClearChoice Dental Implant Centers and WellNow Urgent Care trade names. Aspen Dental is based in East Syracuse, New York.

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Buyer(S) 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 29 of 102
Sector (Healthcare Services) 1 of 11
Type (Secondary Buyout) 4 of 47
State (New York) 4 of 10
Country (United States) 29 of 94
Year (2010) 3 of 9
Size (of disclosed) 21 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-26 Air Lease

Los Angeles, California, United States

Air Lease Corporation, based in Los Angeles, California, acquires commercial aircraft and leases those aircraft to airlines worldwide.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-02 Authentic Brands Group

New York, New York, United States

Authentic Brands Group is a brand development company which owns a major global portfolio of iconic fashion, sports and entertainment brands. ABG's mission is to acquire, manage and build long-term value of consumer brands through partnering with best-in-class licensees and retailers. Authentic Brands Group is based in New York City.

Buy -

Seller(S) 1

SELLER

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
Size Mega
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 10 of 44
Sector (Healthcare Services) 1 of 2
Type (Secondary Buyout) 4 of 16
State (New York) 2 of 3
Country (United States) 9 of 39
Year (2010) 4 of 6
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-26 Air Lease

Los Angeles, California, United States

Air Lease Corporation, based in Los Angeles, California, acquires commercial aircraft and leases those aircraft to airlines worldwide.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-03 City Ventures

Irvine, California, United States

City Ventures Residences offers attractive new homes, in premier locations, at advantageous prices, and every home is a green home. City Ventures has combined a flexible and economical business model with a savvy understanding of the urban market, and choose to build in only the most desired city environments: places of energy, excitement, and opportunity, close to friends, family, and the office; with architecture and interior amenities that reflect what people really want today and tomorrow. City Ventures is based in Irvine, California.

Buy -