Pine Tree Equity, through its third investment fund, has made an investment in Smile Design Dentistry. Pine Tree’s minority investment was made in partnership with the founders of Smile Design who remain as majority owners and will continue to operate the business.
Smile Design Dentistry provides dental care services across 14 Smile Design branded offices in Florida. The company was founded in 2004 and is headquartered in Tampa (www.thesmiledesign.com).
According to Pine Tree the dental care market is projected to grow at 5.5% annually through 2020. Growth in this sector is been driven by several factors which include an aging population and heightened demand for dental hygiene. The dental market is resilient as the industry has not experienced a negative growth year in the past nearly 50 years. Further, private dental practices represented one of the nation’s most profitable industries during the economic downturn.
The investment in Smile Design marks Pine Tree Equity’s 2nd investment in the healthcare services industry and 29th investment since Pine Tree Equity’s inception in 2007.
Pine Tree Equity invests in companies with revenues of $10 million to $50 million and EBITDAs of $2 million to $6 million. Sectors of interest include business, consumer and financial services; consumer products; franchisors and franchisees; and niche manufacturing. The firm has $200 million of committed equity capital and is based in Miami (www.pinetreeequity.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-20-15
