Huron Capital Partners has acquired a new platform investment with the recapitalization of Spring & Sprout Dental Holdings, a dental support organization (DSO) that provides practice support services to dental specialists in pediatric dentistry and orthodontics.
Spring & Sprout will initially provide its support services to dental practices in Ohio, with plans to expand its presence through the Midwest and into the South. The company is headquartered southwest of Detroit in Dundee, MI (www.springandsprout.com).
In launching this buy-and-build initiative, Huron Capital has partnered with dental industry veteran and Huron Capital operating partner, Michael Schwartz. Mr. Schwartz was previously the CEO of Corner Dental, a DSO supporting general dentistry practices in Ohio. Mr. Schwartz and Huron Capital formed Spring & Sprout along with fellow industry veterans, Mick Janness and Jim Usdan, with the vision to build it into the largest DSO exclusively serving pediatric and orthodontic specialty dental practices in the US.
“We are extremely excited to be partnering with Huron Capital in this endeavor. Huron Capital has significant experience in the DSO space through its investment in Dynamic Dental Partners Group, and we look forward to working alongside Huron Capital to execute our buy-and-build strategy in the pediatric dental specialty market,” said Mr. Schwartz. “Spring & Sprout has assembled an excellent team with a strong pipeline of growth opportunities, and we are thrilled to have access to the financial and operational resources of Huron Capital at our disposal to achieve our strategic goals.”
“Huron Capital is very excited to partner with Michael and his team. They have laid out a very thoughtful thesis around the opportunity in the pediatric dental specialty market, and have built an excellent team to execute their plans. Spring & Sprout has several opportunities for growth and we look forward to supporting them in every way we can,” said Nick Barker, Partner at Huron Capital.
Huron Capital Partners invests up to $70 million per transaction in middle market companies that have revenues up to $200 million and EBITDAs of $5 million or more. Sectors of interest include education & training, healthcare, specialty chemicals, specialty packaging, consumer products, home decor, business services, industrial manufacturing, food & beverage, and marketing services. The firm was founded in 1999 and currently manages over $1.1 billion in committed equity through four private equity funds. Huron Capital Partners has offices in Detroit and Toronto (www.huroncapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-24-14
