Publish Date : 18-Jun-2019
Advent International (Advent), one of the largest and most experienced global private equity investors, announced that it has reached an agreement with JB Capital Markets to acquire Vitaldent, a leading network of dental care clinics in the countries where it operates. JB Capital Markets chaired by Javier Botn has been the companys majority shareholder since November 2016 and will remain invested in Vitaldent going forward. Financial terms, which are subject to authorisation by the relevant authorities, have not been disclosed.
Advent, together with JB Capital Markets which has forged the companys solid market position will jointly pursue a value creation plan based on both organic and inorganic growth pillars for Vitaldent. The experienced management team, led by Javier Martin, will continue to manage day-to-day operations at the company.
Vitaldent operates approximately 300 owned and franchised clinics in Spain, making it one of the largest dental chain networks in Europe. The company offers a wide range of services, including general odontology, surgery and implants, endodontics, dental aesthetics, prosthesis orthodontics and paediatric dentistry. Gonzalo Santos, Head of Advent in Spain, said: We are delighted to have invested in Vitaldent in partnership with JB Capital Markets, making us majority shareholders in the business. We intend to help the management team accelerate the companys growth and strengthen its leadership position in the sector through a buy and build strategy. At Advent we believe that this is the most appropriate approach for the companies we invest in that operate in fragmented industries.
Rafael Garabito, Managing Director of JB Capital Markets said: We are pleased to have able been to lift the company out of the critical situation in which it was immersed when we came on board in 2016, generating trust, providing financial stability and strengthening management across all levels of the business. This growth was achieved thanks to the successful management of CEO Javier Martn and the rest of the management team and the professionals that make up the Vitaldent family. We are confident that Advent is the ideal partner to continue growing during this new phase and that Vitaldent will continue to be the undisputed leader in the provision of dental services, helping to improve the quality of life of more and more people over the coming years.
Advent has significant experience in the healthcare sector. Over the past 28 years, the firm has invested $7 billion in 42 companies in the sector worldwide. Recent healthcare investments include Definitive Healthcare, a leading data and analytics provider across the healthcare system; AccentCare, a leading US provider of post-acute healthcare services; BioDuro, a leading global life sciences contract research and development organization based in China; Zentiva, a top European generics pharmaceutical company; Deutsche Fachpflege Gruppe, Germanys largest outpatient intensive care provider; Syneos Health, Inc. (NASDAQ: SYNH), formerly INC Research Holdings, a U.S.-based global provider of outsourced clinical development and commercialization services to biopharmaceutical companies and ATI, a leading outpatient physical therapy provider in the United States.
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