Accel-KKR has bought financial services company Orthbanc LLC. Accel invested earlier in software company OrthoFi and has merged the two businesses.
The combined firm provides patient acquisition and financial management services to the orthodontic industry. “OrthoFi’s mission has always been to help orthodontic practices Start More Smiles and to simplify their lives. We are thrilled to work with OrthoBanc, and to leverage their legacy of trusted payment solutions and industry-recognized customer service.” says OrthoFi CEO Dave Ternan. “Our collective product offerings and our customer-centric cultures are an ideal fit, and will undoubtedly enhance the experience of the customers we serve,”
Investment firm Accel focuses on software and IT-enabled middle market businesses. Lincoln International is serving as OrthoFi’s financial advisor and has arranged debt financing for the deal.