M&A Deal Summary

Tenex Capital Management Acquires Smile Design Dentistry

On October 1, 2018, private equity firm Tenex Capital Management acquired healthcare services company Smile Design Dentistry from Pine Tree Equity Partners

Acquisition Highlights
  • This is Tenex Capital Management’s 2nd transaction in the Healthcare Services sector.
  • This is Tenex Capital Management’s 26th transaction in the United States.
  • This is Tenex Capital Management’s 3rd transaction in Florida.

M&A Deal Summary

Date 2018-10-01
Target Smile Design Dentistry
Sector Healthcare Services
Buyer(s) Tenex Capital Management
Sellers(s) Pine Tree Equity Partners
Deal Type Secondary Buyout

Target

Smile Design Dentistry

Tampa, Florida, United States
Smile Design Dentistry is a dental service organization with 46 clinics operating across Central Florida, serving 13 counties, primarily in the Tampa and Orlando areas but stretching as far north as Gainesville and as far south as Cape Coral. Smile Design Dentistry was founded in 2000 and is based in Tampa, Florida.

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Buyer(S) 1

Buyer

Tenex Capital Management

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tenex Capital Management is a private investment group focused on acquiring control positions in profitable North American companies with $3 to $40 million of EBITDA. The Firm does not have any sector preferences and looks to commit up to $125 million per transaction. Tenex Capital Management was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 26 of 49
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 9 of 16
State (Florida) 3 of 5
Country (United States) 26 of 49
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 Empire Auto Parts

Totowa, New Jersey, United States

Empire Auto Parts is a specialty distributor of aftermarket collision parts. The company is an NSF P394 certified auto parts distributor, and it is a member of the Certified Automotive Parts Association (CAPA) and the Automotive Body Parts Association (ABPA). Empire has 16 locations serving 13 Northeast and Mid-Atlantic U.S. states. Empire Auto Parts is based in Totowa, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-05 BeneSys

Troy, Michigan, United States

BeneSys is a provider of third-party administration (TPA) services for employee healthcare and pension benefit programs for Taft-Hartley multiemployer plans. BeneSys was founded in 1979 and is based in Troy, Michigan.

Buy -

Seller(S) 1

SELLER

Pine Tree Equity Partners

Miami, Florida, United States

Category Private Equity Firm
Founded 2007
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION
Pine Tree Equity's corporate headquarters in Miami, Florida.
Pine Tree Equity's corporate headquarters in Miami, Florida.

Pine Tree Equity Partners is an investment firm focused on small-cap companies. Pine Tree generally looks to partner with management and typically invests $2 to $7 million per transaction. Areas of interest include business services, consumer services, financial services, consumer products, franchising, and niche manufacturing. Pine Tree Equity Partners was formed in 2007 and is based in Miami, Florida.


DEAL STATS #
Overall 9 of 13
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 5 of 7
State (Florida) 2 of 3
Country (United States) 9 of 13
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-20 Northwest Plan Services

Seattle, Washington, United States

Northwest Plan Services, Inc. is an independent recordkeeper and administrator of retirement plans. The Company provides a comprehensive suite of services for 401(k), profit sharing, defined contribution plans, defined benefit pension plans, and other plan types. In addition to recordkeeping, administration, compliance and participant services, the Company provides consulting, employee communication and actuarial services to a client base ranging from small to medium-sized companies having 50 to 500 employees to large, S&P 500 clients with tens of thousands of employees. Northwest Plan Services was formed in 1994 and is based in Seattle, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-02 Annuity Health

Westmont, Illinois, United States

Annuity Health is a provider of revenue cycle management services focused on self-pay collections, bad debt recovery and insurance claim resolution services for hospitals, large physician groups, and other healthcare providers. Annuity Health was founded in 1976 and is based in Westmont, Illinois.

Buy -