Inverness Graham has acquired Inter-Med (DBA Vista Dental), a manufacturer of dental products. Vista Dental is the first acquisition within a new endodontic and restorative dental market platform build launched by Inverness Graham.
Vista Dental is a designer, manufacturer, packager and distributor of more than 300 dental and endodontic products, small equipment, and ancillary consumable products. The company was founded by CEO Gary Pond in 1997 and is based in Racine, WI (www.vista-dental.com).
“Vista Dental is the ideal platform to build out a broader, leading player in the endodontics and restorative space,” said Mr. Pond. “I look forward to working with the team at Inverness Graham as we expect to expand the company’s offerings, build-out our team, and scale as a platform.”
This is the second dental platform launched by Inverness Graham. In December 2013 it acquired San Ramon, CA-based Danville Materials, a manufacturer of intra‐oral air abrasion and microetching equipment, and other consumable dental materials. Inverness Graham partnered on this transaction with dental industries veteran, Garrett Sato, who joined Danville Materials as Chairman and CEO. The company was sold to Carlsbad, CA-based ZEST Anchors, then a portfolio company of Avista Capital Partners, in February 2016. During the just over two year hold, Danville grew both organically and through acquisitions (Perioscopy, an Oakland-based dental products maker, was acquired in April 2015) and doubled its EBITDA. Avista later sold Zest Anchors to BC Partners in February 2018.
In acquiring Vista Dental, Inverness Graham has partnered for the second time with Mr. Sato who will serve as a board member and adviser to the company. “We are looking to accelerate growth with this strong, reliable, well-respected organization through disciplined and process driven organic and acquisitive initiatives and by enhancing the current organizational structure,” said Mr. Sato. “Synergistic and near-in adjacent acquisition opportunities will be a key strategic focus for the company.”
“Vista is well positioned to take advantage of the robust global dental market opportunity – driven domestically by an aging population with increasing dental demands and globally via the growing adoption of modern dentistry practices in emerging markets,” said Aliya Khaydarova, a Principal at Inverness Graham. “The company has a long history of creative R&D with a keen focus on design and engineering to help expand their innovative product lines. Vista has a well-established channel to market, selling through a large network of domestic and international dealers. We look forward to our partnership with the team at Vista Dental and we will support them as they drive both organic and acquisitive growth.”
Inverness Graham manages $500 million in capital and was formed by senior executives of the Graham Group, an industrial and investment concern with interests in plastics, packaging, recycling, building products and outsourced manufacturing. Inverness Graham is based near Philadelphia in Newtown Square, PA (www.invernessgraham.com).
Inverness Graham is currently investing out of its $283 million third fund, Inverness Graham III LP, which closed in June 2015.
© 2018 Private Equity Professional | August 10, 2018
Auxo Investment Partners has acquired Midway Rotary Die Solutions, adding a fourth company to its portfolio of die makers.
“We are excited to grow our platform with Midway’s strong legacy and highly skilled, dedicated workforce,” said Auxo Managing Partner Jack Kolodny. “We look forward to helping steward Midway through the next phase of its growth by making long-term investments and enhancing its growth-related infrastructure.”
“Midway’s addition to our cutting-die platform is the latest step in Auxo’s journey to thoughtfully and strategically align market participants,” said Auxo Managing Partner Jeff Helminski. “We create extraordinary value by providing a complete product offering across the entire spectrum of cutting and converting needs for customers who value technology, reliability and production efficiency. And we will continue to grow this platform organically and acquisitively with partners who share our passion for innovation and solving complex production challenges.”
Auxo – named after the ancient Greek goddess of growth – invests in North America-based manufacturing, industrial, value-added distribution or business services companies that have EBITDA from $1.5 million to $15 million. The firm prefers majority-control investments but will consider select minority-partner opportunities. Auxo is headquartered in Grand Rapids, MI (
Leonard Green & Partners has signed an agreement to acquire The Shade Store, a provider of custom window treatments, from Great Hill Partners which acquired a majority stake in the company in November 2013 in partnership with the company’s co-founders Adam Gibbs, Ian Gibbs, Greg Spatz and Zach Gibbs.
Mr. Gibbs and other members of the senior management team will continue to run the business under Leonard Green ownership. “Adam and the entire team at The Shade Store have built an impressive business with considerable runway to continue growing by delivering unsurpassed value to custom window treatment customers,” said Kris Galashan, a Partner at Leonard Green. “We are thrilled to invest and partner with the management team as they continue building this outstanding franchise.”
Leonard Green invests in middle-market companies in a variety of situations including traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm’s most recent fund, Green Equity Investors VII LP, closed in 2016 with $9.6 billion of committed capital. Leonard Green was founded in 1989 and is headquartered in Los Angeles (
“We have enjoyed an outstanding partnership with Adam, the other co-founders and the entire Shade Store management team, supporting the company’s evolution into the leading retailer of custom window treatments nationwide,” said Peter Garran, a Partner at Great Hill. “The business has added 50 additional showrooms since our investment, and continued its unmatched omnichannel approach with a tireless focus on service that had previously been lacking in the window treatment market.”
Great Hill typically invests from $25 million to $200 million in companies that are active in the business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, e-commerce, and internet infrastructure. In February 2017, Great Hill held a first and final closing of Great Hill Equity Partners VI LP, at the hard cap of $1.5 billion. The firm was founded in 1998 and is based in Boston (
Trinity Hunt Partners has promoted Cheryl Small to Chief Financial Officer and John Oakes to Senior Associate.
After graduating with a BBA from Baylor University, Ms. Small received her certification in public accounting, which she has used in her management of Trinity Hunt’s financial and administrative duties for nearly two decades. Her responsibilities include management of finance, accounting, human resources, regulatory compliance, investor relations and information technology. Prior to Trinity Hunt, Ms. Small served as Director of Internal Control & Compliance at IESI Corporation.
John Oakes is responsible for Trinity Hunt’s portfolio company growth initiatives, deal sourcing and deal execution. Since joining the firm in 2015, he has been active with the firm’s investments in IMS ExpertServices, Lone Star Fasteners, Miller Environmental Services, and Family Help & Wellness. Before joining Trinity Hunt, Mr. Oakes worked in the Investment Banking Division of Credit Suisse, where he was a member of the Global Energy Group focused on mergers and acquisitions, as well as corporate finance in the oil and gas industry. He has his BBA from Southern Methodist University.
