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Huron Forms Spring & Sprout Dental Holdings, LLC
Detroit, MI – June 23, 2014 – Huron Capital Partners (”Huron”) today announced the formation of a new platform investment in the dental market, and the simultaneous recapitalization of Michigan-based Spring & Sprout Dental Holdings, LLC (“Spring & Sprout”). Spring & Sprout is a dental support organization (“DSO”) formed to provide practice support services to dental specialists in pediatric dentistry and orthodontics. Spring & Sprout will initially provide its support services to dental practices in Ohio, with plans to expand its presence through the Midwest and into the South.
In launching this buy-and-build initiative, Huron has partnered with dental industry veteran and Huron operating partner, Michael Schwartz. Schwartz was previously the CEO of Corner Dental, a DSO supporting general dentistry practices in Ohio. Schwartz and Huron formed Spring & Sprout along with fellow industry veterans, Mick Janness and Jim Usdan, with the vision to build it into the largest DSO exclusively serving pediatric and orthodontic specialty dental practices in the U.S.
Schwartz said, “We are extremely excited to be partnering with Huron in this endeavor. Huron has significant experience in the DSO space through its investment in Dynamic Dental Partners Group, and we look forward to working alongside Huron to execute our buy-and-build strategy in the pediatric dental specialty market. Spring & Sprout has assembled an excellent team with a strong pipeline of growth opportunities, and we are thrilled to have access to the financial and operational resources of Huron at our disposal to achieve our strategic goals.”
Nick Barker, Partner at Huron, added: “Huron is very excited to partner with Michael and his team. They have laid out a very thoughtful thesis around the opportunity in the pediatric dental specialty market, and have built an excellent team to execute their plans. Spring & Sprout has several opportunities for growth and we look forward to supporting them in every way we can.”
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.
