Investment Summary

DFO Management and North Peak Capital Exits DentalOne Partners

On October 21, 2019, Mid-Atlantic Dental Partners invested in healthcare services company DentalOne Partners from DFO Management and North Peak Capital

Investment Highlights
  • This is Mid-Atlantic Dental Partners’ 2nd transaction in the Healthcare Services sector.
  • This is Mid-Atlantic Dental Partners’ 2nd transaction in the United States.
  • This is Mid-Atlantic Dental Partners’ 1st transaction in Texas.

Investment Summary

Date 2019-10-21
Target DentalOne Partners
Sector Healthcare Services
Investor(s) Mid-Atlantic Dental Partners
Sellers(s) DFO Management
North Peak Capital
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Morgan Lewis (Legal)

Target

DentalOne Partners

Plano, Texas, United States
DentalOne Partners is a dental practice management company provides a wide range of business services to its affiliated dental practices in Arizona, Colorado, Texas, and Utah. Among the services provided by Dental One are administrative functions, including accounting, human resources, marketing and finance; recruitment of professional, administrative and support personnel in the practices; and equipment and facility leasing. DentalOne Partners is based in Plano, Texas.

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Investor(S) 1

Investor

Mid-Atlantic Dental Partners

Plymouth Meeting, Pennsylvania, United States

Category Company
Founded 2015
Sector Healthcare Services
DESCRIPTION

Mid-Atlantic Dental Partners is a regional dental support organization (DSO) providing accessible and affordable multispecialty oral healthcare and orthodontics through its affiliated Western Dental, Brident, and Vital Smiles brands. Mid-Atlantic Dental Service Holdings was founded in 2015 and is based in Plymouth Meeting, Pennsylvania.


DEAL STATS #
Overall 2 of 2
Sector: Healthcare Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-03 Perfect Teeth

Denver, Colorado, United States

Perfect Teeth is a group of dental offices dedicated to providing Gold Standard patient care and service to every patient, every day. Perfect Teeth was formed in 1995 and is based in Denver, Colorado.

Buy -

Seller(S) 2

SELLER

DFO Management

New York, New York, United States

Investor Investor


Category Family Office
Founded 1998
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

DFO Management is the private investment vehicle for Michael Dell, founder of Dell Computers. The Firm targets investment opportunities across the US and internationally and is split into several groups. These include Public Equity, Special Opportunities, Private Equity, Real Estate, and Partnerships. The Private Equity group targets transactions that include leveraged and management buyouts, take privates, mezzanine debt and other structured investments, PIPEs and growth equity financings, platform acquisitions and roll-ups, and partnerships with other financial sponsors. DFO looks to commit $100 to $250 million per transaction and prefers investments in non-technology companies. DFO Management was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 6 of 11
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 5
State: Texas M&A 1 of 1
Country: United States M&A 5 of 10
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 Endries International

Brillion, Wisconsin, United States

Endries International is a distributor of fasteners and class-C parts serving industrial Original Equipment Manufacturers (OEMs) worldwide. Endries provides over 500,000 SKUs to its customer base. Endries operates primarily through a Vendor Managed Inventory model, managing C-part categories for its customers across diverse industrial end markets. Endries partners with OEM customers through robust replenishment systems that provide products and support services which are critical to maintaining the manufacturing process. Endries International was founded in 1970 and is based in Brillion, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-14 WCG

Princeton, New Jersey, United States

WCG is a provider of regulatory and ethical review services for human research. The pioneer of independent ethical review, WCG continues to drive ingenuity in the clinical research space. WCG delivers transformational solutions that stimulate growth, foster compliance and maximize efficiency for those who perform clinical trials. WCG was founded in 2012 and is based in Princeton, New Jersey.

Sell -
SELLER

North Peak Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Hedge Fund
Founded 2005
Size Small
Type Sector Focused
DESCRIPTION

North Peak Capital LLC is a small private equity firm focused on investments in healthcare services and education companies. Within healthcare services, specific areas of interest include physician support services, dental products and services, medical providers, managed care, worker's comp insurance, medical equipment, healthcare outsourcing solutions, medical staffing, and distribution. Within education, the firm will consider post-secondary and adult education, test preparation, tutoring services, special needs services, childcare providers, education content, foreign language instruction, and corporate training companies. The Firm generally looks for businesses with EBITDA between $5 and $25 million and prefers control investment situations. North Peak was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-07 DentalOne Partners

Plano, Texas, United States

DentalOne Partners is a dental practice management company provides a wide range of business services to its affiliated dental practices in Arizona, Colorado, Texas, and Utah. Among the services provided by Dental One are administrative functions, including accounting, human resources, marketing and finance; recruitment of professional, administrative and support personnel in the practices; and equipment and facility leasing. DentalOne Partners is based in Plano, Texas.

Buy -