BC Partners signed an agreement to buy a majority stake in DentalPro, a leading Italian dental clinics chain (see here the press release). Since April 2015 DentalPro has been controlled by Summit Partners with a 58% stake, while the remaining 42% has been shared by Vam Investments, some private investors and the founders (see here a previous post by BeBeez).
Founded in 2010 in Milano by ceo Michel Cohen, DentalPro now counts 112 full service dental clinics mainly located in shopping centers.
DentalPro (DP Group spa) has been growing at a fast pace in the last few years and last Summer finalized two significant acquisitions: Gruppo Giovanni Bona Cliniche Dentali (see here a previous post by BeBeez) and DentaDent (see here a previous post by BeBeez). When DentalDent was bought, DentalPro annpunced that the group would have exceeded 100 million euros in revenues in 2016 with a 20% ebitda margin.
When Giovanni Bona Cliniche Dentali was acquired, instead, Pemberton subscribed a 70 million euros bond in a private placement in order to finance the buyout. Also Muzinich subscribed a stake in the bond.
Nikos Stathopoulos, managing partner of BC Partners, said: “We are happy to become partners to founder and ceo Michel Cohen and support his management team. We believe that DentalPro is the best platform to make the fragmented Italian dental services market more homogeneus and technologically advanced”.
BC Partners was advised by PwC, by Chiomenti and Dickson Minto law firms, and by Rossi & Soci as for fiscal issues. White & Case LLP was legal advisor to Summit Partners, BonelliErede law firm advised the management and Pavia&Ansaldo law firm advised Vam.
