dental products

Inverness Graham Continues Dental Build

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Vista Dental, a portfolio company of Inverness Graham, has acquired Apex Dental Materials.

Apex Dental is a branded manufacturer of restorative dental materials including adhesives, primers, composites, and cements. The company was founded in 1998 and is headquartered north of Chicago in Lake Zurich, IL (www.apexdentalmaterials.com).

Inverness Graham acquired Vista Dental in July 2018 as the first acquisition within a new endodontic and restorative dental market platform. Vista 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 in 1997 and is based in Racine, WI (www.vista-dental.com).

“Apex represents a fantastic opportunity for Vista,” said James Onderak, president of Vista Dental. “Through this acquisition we expand our current product portfolio and leverage our distribution channel, sales and marketing platform, as well as our Key Opinion Leader program to position Vista as a market leader in the broader endodontic and restorative markets.”

“The acquisition of Apex expands Vista’s endodontic product portfolio with a complementary restorative offering,” said Aliya Khaydarova, a principal at Inverness Graham. “Apex provides world-class products that meet the needs of general practitioners and endodontists. The company continues to innovate, and we are excited about the new products in development that we expect to bring to market later this year.”

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.

© 2019 Private Equity Professional | April 30, 2019

Inverness Graham Starts Dental Build

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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

 

Jordan Builds Dental Supply Platform

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Young Innovations, a portfolio company of The Jordan Company since November 2017, has acquired Johnson-Promident.

Johnson-Promident is an OEM and private label manufacturer and supplier of dental handpieces including carbide burs (used to remove material and tooth structure), and finishing and polishing instruments. The company also sells cotton rolls, gauze, sponges, patient towels and bibs; and infection control products such as gloves and face masks. In addition, Johnson-Promident provides services for the repair and maintenance of dental handpieces. The company, led by CEO Gary Kris, is based near New York City in Valley Cottage, NY (www.johnsonpromident.com).

Young Innovations develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. The company’s consumables product offering includes disposable and metal prophy angles (used tool for tooth polishing), prophy cups and brushes, dental micro-applicators, moisture control products, infection control products, dental handpieces, endodontic systems, orthodontic toothbrushes, flavored examination gloves, children’s toothbrushes, and children’s toothpastes. In addition, the company offers a line of diagnostic products that includes panoramic X-ray machines and related supplies. The company, led by CEO Dave Sproat, is based in Algonquin, IL (www.ydnt.com).

“Johnson-Promident is our tenth acquisition in the last four years and solidifies our position as the partner of choice for owners of dental products companies,” said Andrew Jones, Vice President of Corporate Development at Young Innovations. “This also demonstrates our continued commitment to growth through acquisition in focused categories of preventive, restorative and infection control.”

The Jordan Company is a middle-market private equity firm with over $6 billion of assets under management.  The firm was founded in 1982 and is headquartered in New York with an additional office in Chicago (www.thejordancompany.com).

© 2018 Private Equity Professional | July 6, 2018

TSG Consumer Exits DenTek

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TSG Consumer Partners has entered into an agreement to sell DenTek Oral Care to publicly traded Prestige Brands for $225 million on a debt-free, cash-free basis.  The transaction is expected to close during the first half of 2016.

DenTek, a portfolio company of TSG since December 2010, develops and markets oral care products including floss picks, interdental brush cleaners, dental guards, disposable dental picks, braces care and dental repair products. The company’s products are sold in over 30 countries and in retail stores across the US including Walmart, Target, Walgreens, CVS, Rite Aid and Kroger. DenTek was founded in 1984 by John Jansheski. The company originated when John’s father, a dentist, invented an at-home tarter removal device, known to many as the dental pick. DenTek is led by CEO David Fox and is headquartered south of Knoxville in Maryville, TN (www.dentek.com).

“We have great respect for David Fox and the other members of DenTek’s talented management team, and have greatly valued our partnership with them,” said Pierre LeComte, a Managing Director at TSG. “Over the last five years, DenTek has significantly expanded its retail network and developed a leading position in several oral care categories. We are confident DenTek will continue to build on its momentum under Prestige Brands.”

Prestige Brands (NYSE: PBH) markets and distributes over-the-counter healthcare and household cleaning products.  It was formed by the merger of Medtech Products, Prestige Brands International, and The Spic and Span Company in 2005.  Among the brands owned by Prestige are Chloraseptic sore throat products, Clear Eyes, Compound W wart remover, Dramamine, Efferdent, Luden’s, and the Comet and Spic and Span cleaning products.  The company is headquartered in Tarrytown, NY (www.prestigebrands.com).

TSG Consumer Partners makes control and non-control investments of $15 million to $100 million in companies with EBITDAs of $3 million to $50 million where there is an opportunity to enhance value by extending brand, expanding distribution and improving operations. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, beauty, personal care, household, apparel & accessories, and ecommerce sectors. The firm has $3 billion of assets under management and is headquartered in San Francisco (www.tsgconsumer.com).

“TSG Consumer has been an outstanding partner of ours during a period of accelerated growth at DenTek. TSG’s input regarding our new product development, sales and marketing activities, and acquisitions was immeasurable and we are grateful for their expert guidance,” said CEO David Fox.

Consumer focused investment bank Sawaya Segalas (www.sawayasegalas.com) was the financial advisor to DenTek.

© 2015 PEPD • Private Equity’s Leading News Magazine • 12-1-15

Linden Capital Partners Acquires Dry Tips

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Young Innovations, through its subsidiary Microbrush International, has acquired the Dry Tips brand of moisture control products used in dental procedures from Molnlycke Health Care, AB.  Young Innovations has been a portfolio company of Linden Capital Partners since January 2013.

Young Innovations develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. The company’s consumables product offering includes disposable and metal prophy angles, prophy cups and brushes, dental micro-applicators, moisture control products, infection control products, dental handpieces (drills), endodontic systems, orthodontic toothbrushes, flavored examination gloves, children’s toothbrushes, and children’s toothpastes. The company also offers a line of diagnostic products that includes panoramic X-ray machines and related supplies. Young Innovations is headquartered northwest of Chicago in Algonquin, IL (www.ydnt.com).

“This acquisition is a major step in our plan to build out our restorative accessories platform at Microbrush,” said Dave Sproat, CEO of Microbrush parent-company Young Innovations. “We look to acquisitions, together with internal product development and relationships with our strategic partners, to continue to drive our long-term growth strategy.”

Following a brief transition period, Dry Tips products will be manufactured at the Microbrush facility in Grafton, WI.  “We are excited about the opportunity to add Dry Tips to our growing portfolio of restorative accessories,” said John Frymark, VP and General Manager of Microbrush. “Dry Tips represents best-in-class products which will allow us to bring a more complete offering to dental professionals that value superior and effective clinical products.”

Linden Capital Partners is focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden’s strategy is based upon three elements: healthcare and life science industry specialization; integrated private equity and operating expertise; and strategic relationships with large corporations.  The firm is based in Chicago (www.lindenllc.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 12-1-14

Riker Capital and Main Street Acquire Garreco

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Riker Capital and Main Street Capital have acquired Garreco, a manufacturer and supplier of consumable dental products. Main Street Capital provided $5.8 million of senior secured term debt and a $1.2 million direct equity investment in this transaction.

Garreco is a manufacturer and supplier of consumable products used to create dentures, crowns, and bridges in dental laboratories and clinics. The company is one of the country’s largest manufacturers of specialized gypsum products used to create the plaster models and casts necessary to customize dentures, crowns, and bridges for a patient’s mouth. Garreco was founded in 1988 and is headquartered in Heber Springs, AR (www.garreco.com).

Riker Capital makes control investments in lower middle market companies that have revenues of at least $5 million and EBITDA of at least $1 million. Sectors of interest include food, consumer, and industrial products manufacturing; business services; and value-added distribution. The firm is led by its founder Riker “Rick” Stearns and is based in Chicago (www.rikercapital.com).

Main Street Capital provides long-term debt and equity capital to middle market and lower middle market companies in diverse industry sectors that have annual revenues from $10 million to $150 million. Main Street provides “one stop” financing alternatives within its lower middle market portfolio. Main Street’s common stock trades on the New York Stock Exchange under the symbol “MAIN.” The firm is based in Houston, TX (www.mainstcapital.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 7-17-13