Dental Corporation of Canada Holdings Inc. has secured significant strategic investment from L Catterton. Imperial Capital Group Ltd. and OPTrust Private Markets Group, together with management and dentist shareholders, will continue to hold a significant equity interest in the company.
Financial terms were not disclosed.
Launched in 2011, Dental Corporation of Canada Holdings is Canada’s largest network of dental clinics, consisting of over 250 separate locations servicing more than 2.5 million patient visits a year.
In July 2014, Imperial Capital Group and OPTrust Private Markets Group invested $121 million in Dental Corporation of Canada Holdings for a majority stake in the company.
The pre-L Catterton board consisted of Sandra Bosela of OPTrust, Justin MacCormack and Jeffrey Rosenthal of Imperial Capital, Mark Evans of Dental Corporation of Australia, and Graham Rosenberg, CEO of Dental Corporation of Canada.
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Significant Strategic Investment from L Catterton
TORONTO, Ontario and GREENWICH, Conn. – April 30, 2018 – dentalcorp Receives Significant Strategic Investment from L Catterton
Dental Corporation of Canada Holdings Inc. (“dentalcorp” or the “Company”), the largest network of general and specialist dental clinics in Canada, is pleased to announce today a significant strategic investment by L Catterton, the largest and most global consumer-focused private equity firm in the world. Imperial Capital Group Ltd. and OPTrust Private Markets Group, together with management and dentalcorp’s dentist shareholders, will continue to hold a significant equity interest in the Company. Financial details of the transaction have not been disclosed.
Launched in 2011, dentalcorp was founded to revolutionize the business of dentistry. Today, the Company has grown to be Canada’s largest network of dental clinics, consisting of over 250 separate locations servicing more than 2.5 million patient visits a year. dentalcorp has been named a Gold Member of Canada’s Best Managed Companies four years in a row.
“This transaction marks the next stage of our Company’s evolution,” said Graham Rosenberg, Chief Executive Officer and Founder of dentalcorp. “As we continue to build our deep network of leading general and specialist dental clinics across the country, L Catterton’s extensive experience in the consumer and healthcare sectors will support our mission to provide our dentist partners and their teams with the resources they require to advance the patient care agenda.”
“The Canadian dental industry has experienced tremendous growth over the last five years and dentalcorp has established itself as a clear market leader and trusted partner to the wide network of dentist practices it serves,” said Andrew C. Taub, a Managing Partner of L Catterton’s Buyout Fund. “Leveraging our unmatched expertise in the consumer and healthcare sectors, we look forward to supporting dentalcorp and its management team by offering our deep knowledge of today’s consumer, operational expertise to drive growth across its network, and capital to support expansion opportunities.”
“Since our initial investment in 2014, the Company has achieved significant growth,” said Jeff Rosenthal, Managing Partner of Imperial Capital. “We are thrilled to continue our involvement with dentalcorp and look forward to its continued success.”
L Catterton’s other investments in the dental space include ClearChoice, a leader in clinical dental implant services, and CareDent, a leading chain of dental clinics in Italy. Other consumer health investments include PetVet Care Centers, a leading network of general practice and specialty veterinary hospitals for companion animals, and Pain Doctor, a leading pain management company.
Jefferies LLC acted as exclusive financial advisor to dentalcorp, and CIBC World Markets as Special Advisor.
dentalcorp is focused on acquiring and partnering with leading, growth-oriented general and specialist dental clinics across Canada. Our unique value proposition allows our dentist Partners to retain their clinical and operating autonomy while we inspire them to achieve ambitious personal and professional growth. Our unprecedented strategic insights and expertise place our Partners at the forefront of delivering optimal patient care.
About L Catterton
With approximately $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton’s team of more than 160 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.
About Imperial Capital Group
Imperial Capital Group is a Toronto-based private equity fund manager that focuses on buy-out opportunities in the Canadian and U.S. mid-market. Currently drawing from its sixth fund with commitments of $500 million, Imperial Capital invests in targeted industry niches within healthcare, business, and consumer services industries with revenues between $20 million and $250 million. For more information about Imperial Capital Group, please visit imperialcap.com.
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