New York private equity firm Bregal Partners is teaming up with Dental Partners Inc., a dental practice, to acquire general dentistry-focused practices.
Bregal and Dental will look to buy practices with $5 million to $25 million in revenue in the southeast, Texas and other Midwestern states. After acquisitions close, Dental Partners plans to grow the practices with smaller add-ons.
Dental Partners, headquartered in Melbourne, Florida, is a general dentistry-focused dental practice management company that operates in Tennessee, Kentucky, Florida and Georgia. Founder Todd Christie, a dentist, founded the company in 2011 with the acquisition of a single Tennessee clinic, and has grown the company to more than 20 clinics. Christie previously built another dental group, Christie Dental, which he sold to America Dental partners in 2009.
Bregal invests in health care, consumer brands and energy companies. Earlier in August, Bregal portfolio company Aqua Terra Water Management expanded into the U.S. with the purchase of two wastewater treatment facilities. In March, the firm bought Shock Doctor Inc., which makes sports products.
The announcement signifies that physician group consolidation is continuing. For more on the trend, see "ACA Reshuffles the Deck."
There have been a few other dental deals lately. In July, Citic Capital Partners and Blue Sea Capital closed a deal for DDS Lab LLC, a dental group, and before that, in June, Huron Capital Partners recapitalized Spring & Sprout Dental Holdings LLC.