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Huron Capital Closes First Deal in Fund IV with Investment in Dynamic Dental Partners
DETROIT, Mich., August 5, 2013 – Huron Capital Partners, one of the nation’s leading middle market private equity firms, today announced the first in a series of planned investments in the dental services industry with an investment in Dynamic Dental Partners (“DDP”). Based in Sarasota, Fla., DDP is a leading dental services organization (“DSO”) that provides operational support to a network of dental practices located in Florida, Arizona and Virginia.
“We are thrilled to be partnering with Huron Capital,” said Dr. Alex Giannini, DDP’s CEO. “We see a significant opportunity to continue building DDP and are grateful to have a like-minded partner in Huron who can provide the capital and operational expertise necessary to help us do so. We anticipate making several more acquisitions to continue expanding our footprint and partnering with dentists to provide exceptional quality of care to as many patients as possible.”
Huron aligned with DDP’s management team to provide the investment necessary to bring together the current network of practices with capital reserved to fund future acquisitions. The transaction marks Huron’s second investment in the dental industry, having acquired a majority interest in short-term cosmetic orthodontics provider Six Month Smiles, Inc. in January 2013. The dental market is a $119 billion industry and growing steadily according to IBISWorld.
“Huron identified the DSO market as an industry of focus nearly two years ago, and we have found an ideal platform on which to build in DDP,” commented Huron Partner Nick Barker. “DDP has a deep and experienced management team with a long track record of successfully identifying and executing acquisitions in the dental market, and we are excited to be partnering with them to continue growing the business.”
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.
