Investment Summary

Monroe Capital, Granite Bridge Partners and Thurston Group Invest In Smiles Dental

On October 1, 2013, lender Monroe Capital, private equity firm Granite Bridge Partners and private equity firm Thurston Group invested in healthcare services company Smiles Dental

Investment Highlights
  • This is Monroe Capital’s 2nd, Granite Bridge Partners’ 1st and Thurston Group’s 1st transaction in the Healthcare Services sector.
  • This is Monroe Capital’s 37th, Granite Bridge Partners’ 13th and Thurston Group’s 1st transaction in the United States.
  • This is Monroe Capital’s 2nd, Granite Bridge Partners’ 1st and Thurston Group’s 1st transaction in Washington.

Investment Summary

Date 2013-10-01
Target Smiles Dental
Sector Healthcare Services
Investor(s) Monroe Capital
Granite Bridge Partners
Thurston Group
Deal Type Growth Capital

Target

Smiles Dental

Longview, Washington, United States
Smiles Dental is a dental practice management organization in Pacific Northwest. The company enters into business service agreements with dental practices to provide business support, office management and administrative services that allow dentists the opportunity to focus on the clinical aspects of their practice. Smiles Dental was founded in 2013 and is based in Longview, Washington.

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Investor(S) 3

Investor

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago, Illinois.


DEAL STATS #
Overall 37 of 115
Sector (Healthcare Services) 2 of 7
Type (Growth Capital) 15 of 36
State (Washington) 2 of 2
Country (United States) 37 of 114
Year (2013) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-13 Gem Shopping

Duluth, Georgia, United States

Gem Shopping is a 24-hour live TV network, specializing in the sale of unique colored gemstones and jewelry. Gem Shopping connects with its loyal and growing customer base through an engaging, interactive TV network that is broadcast via satellite, cable and over the internet. Gem Shopping was founded in 1995 and is based in Duluth, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-08 Escort

West Chester, Ohio, United States

Escort is a premium line of automotive accessories and is the market leader in the design, manufacture and distribution of radar detectors and mobile data used for ticket protection.

Buy -
Investor

Granite Bridge Partners

New York, New York, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2018
Size Mega
Type Sector Agnostic
DESCRIPTION

Granite Bridge Partners is a private equity firm focused on control investments in mid-sized companies operating in traditional industries. The Firm looks to commit $10 to $30 million in profitable companies with up to $100 million in revenue. Broad areas of interest include consumer products/services, business services, and niche manufacturing. Granite Bridge Partners is the former direct investing unit of Wafra Partners and was spun out in 2018. The Firm is based in in New York City.


DEAL STATS #
Overall 14 of 18
Sector (Healthcare Services) 1 of 2
Type (Growth Capital) 2 of 2
State (Washington) 1 of 2
Country (United States) 13 of 16
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-11 Phelps Pet Products

Rockford, Illinois, United States

Phelps Pet Products is a manufacturer and marketer of specialty pet treats sold under private label and contract manufacturing agreements to leading retailers and pet food brands. Phelps works with retailers and brands to provide "better-for-your-pet" treat portfolios and sources all ingredients in the US. Phelps Pet Products was founded in 1966 and is based in Rockford, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-26 Architectural Testing

Pittsburgh, Pennsylvania, United States

Architectural Testing, Inc. is a provider of performance testing, certification services and related professional services to the building products industry in the United States.

Sell £59M
DESCRIPTION

Thurston Group is a private equity group focused on acquiring and investing in fragmented businesses operating in the business services and healthcare industries. The Firm targets profitable companies with $1 to $20 million of EBITDA looking for capital to facilitate growth. Specific areas of interest include healthcare management and dental supply support organizations. Thurston Group was originally established in 1986 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 1 of 6
Sector (Healthcare Services) 1 of 4
Type (Growth Capital) 1 of 3
State (Washington) 1 of 1
Country (United States) 1 of 6
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 USOSM

Irving, Texas, United States

USOSM is a specialty management services company, partners with premier oral and maxillofacial surgeons throughout the United States to offer a partnership solution for continued and accelerated practice success. USOSM was founded in 2017 and is based in Irving, Texas.

Buy -