Sentinel Capital Partners has sold Northeast Dental Management to Dental Care Alliance, a portfolio company of Harvest Partners.
Northeast Dental Management (NEDM) – acquired by Sentinel in April 2012 – provides administrative staffing, human resources, purchasing, financial, and information technology support services to 65 locally-branded dental offices in Connecticut, Massachusetts, Maryland, New York, New Jersey, Pennsylvania, and Virginia. The company is headquartered north of Newark in Paramus, NJ (www.nedentalmanagement.com).
During Sentinel’s term of ownership, the number of offices served by NEDM grew from 29 to 65 through 24 add-on affiliations which increased the company’s office density in the northeast Amtrak corridor and expanded its service offering into Maryland, Massachusetts, and Connecticut.
“Sentinel has given us the guidance and support needed to grow our business,” said NEDM Chief Executive Officer, Dr. Craig Abramowitz. “Together, we have created a strong, integrated platform capable of providing our dentists with topflight administrative support that allows them to provide their patients with the highest level of dental care.”
Sentinel Capital Partners invests in middle market companies in the United States and Canada in partnership with management. The firm invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare services, and industrials. The firm is headquartered in New York (www.sentinelpartners.com).
Dental Care Alliance, the buyer of NEDM, was acquired in July 2015 by Harvest from Quad-C Management. Today, the company is one of the largest dental support organizations in the US with 157 dental offices located in eight states supporting over 382 dentists. Back office business support services include human resources, marketing, purchasing, accounting and insurance management. DCA’s dental practices provide general dentistry, hygiene, pediatric dentistry, orthodontics, endodontics, periodontics and oral surgery. The company was founded in 1991 and is headquartered in Sarasota (www.dentalcarealliance.com).
Harvest Partners currently manages approximately $2 billion of equity and structured capital and is investing its sixth private equity fund. Harvest targets investments in companies with $20 million to $75 million of EBITDA and total enterprise values of $100 million to $750 million. Sectors of interest include industrial & energy services; manufacturing & distribution; consumer & business services; and healthcare services. The firm was founded in 1981 and is based in New York with an additional office in Palo Alto (www.harvestpartners.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-8-16
