ICV Partners LLC, an investment firm focused on lower middle market companies in business services, consumer goods & services, food & beverage, and healthcare, announced today that it has made a majority investment in Cherry Tree Dental, in partnership with co-CEOs Steve Sorrel and Jack Young.
Young and Sorrel, commented, “When it comes time to discuss succession planning and practice continuity strategy, dentists want to make sure their patients continue to receive the highest quality of care. Focusing on solo practitioners or small dental offices, our sophisticated model is building a successful network serving communities throughout Wisconsin by providing dentists that opportunity to transition their practices and, if they choose, remain with their practice in order to focus on their patients. ICV shares our vision, mission, and values and working with them will enable us to leverage their expertise and broaden our reach to enhance the patient experience with ongoing technology improvements and the addition of new specialty services.”
Qian Elmore, ICV managing director, said, “Cherry Tree has emerged from a very challenging year in a superior position and is very well positioned to capitalize on the shifting market dynamics in Wisconsin and surrounding states as more dentists choose to transition from owning their own practice and prefer to focus on serving patients. Cherry Tree is benefiting as dentists relocate from large cities to secondary markets and we look forward to this new partnership to grow the business in new and existing markets throughout Wisconsin.”