dental products

Inverness Graham Continues Dental Build

by

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

by

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

by

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

by

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

by

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

by

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

Avista Acquires ZEST Anchors from Jordan

by

Avista Capital Partners has signed an agreement to acquire ZEST Anchors, a dental products manufacturer and a portfolio company of The Jordan Company.

ZEST Anchors is a manufacturer of a dental products including overdenture attachments used in the treatment of edentulous (the condition of being toothless) patients. ZEST sells its products through OEM implant companies and distributor networks. The company was founded in 1977 and is based in Escondido, CA (www.zestanchors.com).

“Our company is committed, in partnership with our OEM and distribution partners, to continuing to improve the lives of edentulous patients with our existing product portfolio as well as new products focused on overdenture treatment options that we plan to bring to the marketplace,” said Steve Schiess, the CEO of ZEST. “We believe that Avista, which has deep expertise and an impressive track record in the healthcare space, is the ideal partner to help us achieve our goals.”

Avista Capital Partners, with over $5 billion of capital under management, makes control or influential minority investments in growth-oriented energy, healthcare, communications & media, industrials, and consumer businesses. The firm was founded in 2005 and is based in New York with offices in Houston and London (www.avistacap.com).

“The technological differentiation and brand power of ZEST’s core LOCATOR® portfolio provide a strong foundation for growth. ZEST is well positioned to continue delivering valuable innovation to the dental community. Steve Schiess and the ZEST team have created a market leading business, and we look forward to working together to drive the next phase of the company’s growth,” said Sriram Venkataraman, a Partner at Avista.

The Jordan Company, which acquired ZEST Anchors in January 2010, is a middle-market private equity firm with over $6 billion of assets under management. The firm is headquartered in New York and has offices in Chicago and Shanghai (www.thejordancompany.com).

“We congratulate and thank the entire ZEST management team on a fantastic partnership. Centered on the foundation and world-class product portfolio created by Paul Zuest and Scott Mullaly, Steve and the rest of the ZEST team should be commended for their ability to successfully introduce exciting new products and execute upon the growth plan we helped to establish for the business. We wish the ZEST team and their new owners well and expect that the company will continue to build upon their strong performance,” said Jeb Boucher, Managing Partner of The Jordan Company.

Barclays and Sagent Advisors acted as financial advisors to ZEST. Avista was advised by and secured acquisition financing from Deutsche Bank.

© 2013 PEPD • Private Equity’s Leading News Magazine • 7-2-13

Huron Capital and Exium Invest in Six Month Smiles

by

Huron Capital Partners and Exium Partners have made an investment in Six Month Smiles, a provider of adult cosmetic orthodontics.

Six Month Smiles provides cosmetic orthodontic solutions as a turnkey program for general practitioner dentists, enabling them to treat patients with an alternative to both comprehensive orthodontics and aligner products for correcting crooked teeth in four to nine months.  Six Month Smiles serves the large population of adults who desire straighter teeth for cosmetic purposes, yet do not want to deal with the treatment length, higher cost or poor appearance associated with traditional braces. The company was founded in 2006 by Dr. Ryan Swain and is based in Scottsville, NY (www.6monthsmiles.com). 

Huron and Exium Partners plan to continue growing the business through geographic expansion and new product offerings.  “Six Month Smiles has a proven management team, a scalable business model, a dedicated employee base, and loyal customers,” said Huron Partner, Nick Barker.  “We are excited to be partnering with the Six Month Smiles management team and working with them in growing the business going forward.” 

The Six Month Smiles transaction builds on Huron’s prior experience and success investing in the business services market and is the culmination of an active effort to identify investments specifically in the dental market.  Huron’s investment in Six Month Smiles was made through The Huron Fund III L.P., a $350 million private equity fund which closed in 2008. 

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 décor, business services, industrial manufacturing, food & beverage, and marketing services.  Since its founding in 1999, Huron has acquired or invested in 61 companies with aggregate revenues in excess of $1 billion. Huron Capital currently manages over $1.1 billion in committed equity through four private equity funds, and has offices in Detroit and Toronto (www.huroncapital.com).

Exium Partners invests in lower middle-market companies located in the United States and Canada that have revenues of $5 million to $100 million and EBITDAs of $2 million to $20 million. The firm is an industry generalist but has specific interest in the business services, software, digital media, manufacturing, telecommunications, and financial technology and services sectors.  Exium Partners is based in Fairport, NY (www.exiumpartners.com). 

“We’re excited about this investment,” said Dr. Swain.  “Six Month Smiles has grown rapidly over the past several years and this is the right time for us to reinvest in market expansion. As we continue to lead the market with our Short Term Ortho system, we believe the operational experience from our new investors will help us reach new heights.” 

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-12-13

Linden Capital Partners Acquires Young Innovations

by

Young Innovations, a developer and manufacturer of equipment used by dentists, has been acquired by Linden Capital Partners. 

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) and related components, 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 is based in East Earth City, MO (www.ydnt.com). 

Linden Capital Partners is focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden’s strategy is based upon four elements: specialization on middle market healthcare and life science companies; integrated private equity and operating expertise; customized value creation programs for each portfolio company; and strategic relationships with large corporations. The firm is based in Chicago (www.lindenllc.com). 

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-31-13

Riverside Acquires Orthodontic Design and Production

by

The Riverside Company has acquired Orthodontic Design and Production (ODP), a manufacturer of orthodontic appliances. The operations of ODP will be coordinated with Riverside’s existing platform company G&H Wire Company, a manufacturer and supplier of orthodontic products.

Orthodontic Design and Production sells branded and private label orthodontic brackets, bands and buccal tubes through more than 175 distributors in 62 countries. The company was founded in 1992 and is based in Vista, CA (www.odpinc.com).

G&H Wire Company is a manufacturer and supplier of orthodontic products including arch wires, springs and elastomerics, and other ancillary products. Riverside acquired G&H Wire in 2010. The company is based in Franklin, IN (www.ghwire.com).

“This acquisition complements G&H Wire perfectly in terms of products and strategy,” said Riverside Partner Chris Jones. “It adds advanced capabilities in brackets, bands and tubes, which rounds out G&H’s offering and makes it a reliable single source for our global customer base.”

Working with Mr. Jones on the transaction for Riverside were Vice President Martha Sciaraffo, Vice President Rob Langley, Associate Max Moehlmann, Operating Partner George Benson, Operating Executives Hayden Cotterill and Tom Snyder. Joseph Ibrahim, Principal of Healthcare Origination, sourced the investment opportunity for Riverside. The acquisition was Riverside’s 62nd healthcare acquisition, making it the firm’s most active specialization.

Golub Capital and Maranon Capital provided financing for the transaction, Jones Day provided legal counsel on the transaction, and Deloitte provided accounting due diligence.

The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $200 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 290 transactions with a total enterprise value of more than $6 billion. The firm is headquartered New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

© 2012 PEPD • Private Equity’s Leading News Magazine • 8-22-12