Citic Capital Partners and Blue Sea Capital have closed a deal for DDS Lab LLC, a dental group.
DDS, headquartered in Tampa, Florida, is a dental laboratory that provides custom dental prosthetic appliances to dentist practices. The company makes more than 400 products, including crown and bridge cases, dentures, partials, implants and orthodontic appliances. Terms of the transaction were not disclosed.
Citic made the deal through its third fund, Citic Capital International Partners III LP. The firm, headquartered in Hong Kong, manages about $2.6 billion in committed capital. Blue Sea, headquartered in Palm Beach, Florida, is a private equity firm that invests in lower middle market companies valued at up to $200 million. The firm closed its debut fund in June with $327 million in commitments.
Moelis & Co acted as financial adviser to DDS for the transaction.
The transaction follows several other dental deals, including Huron Capital Partners' recapitalization of Spring & Sprout Dental Holdings LLC in June, and Heartland Dental Care LLC's acquisition of My Dentist Holdings LLC in October.