DentalPlans.com has taken on backing from Cleveland-based private equity firm Riverside Co., the firms revealed. Babson Capital provided mezzanine debt and equity to support the transaction, according to a statement. Specifics of the deal were not publicized. DentalPlans.com is based in Florida.
SPRINGFIELD, Mass. (APRIL 26, 2012) – Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today announced it provided mezzanine debt and equity to support The Riverside Company’s investment in DentalPlans.com Inc.
Plantation, Fla.-based DentalPlans.com is the leading direct-to-consumer marketer of dental savings plans. The Company provides online tools that allow customers to compare dental savings plans by zip code, view sample savings and find a nearby dentist. DentalPlans.com offers more than 30 of the leading dental savings plans available at more than 100,000 dentists across the country, providing its members access to discounts of between 10 percent and 60 percent off most dental procedures.
“Our well-established relationship with Babson Capital and its ability to close quickly was a key to bringing the DentalPlans.com transaction to a successful conclusion on a challenging timetable,” said Riverside Partner Kristin Newhall. “DentalPlans.com is already the dominant player in the online direct-to-consumer dental savings plan market, and we are excited about the opportunity to help the company realize its untapped potential.”
“We are pleased to partner with The Riverside Company on its investment in DentalPlans.com, which will no doubt benefit from Riverside’s long and successful track record of investing in the healthcare industry on 60 previous transactions,” said Mike Klofas, Managing Director and head of the Middle Market Finance Group for Babson Capital. “We look forward to supporting Riverside on additional investments in the near future.”
About The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 275 transactions. The firm’s international portfolio includes more than 75 companies, and it has $3.2 billion/€2.5 billion in assets under management.
About Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $142.8 billion in assets under management as of March 31, 2012. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn., and Wood Creek Capital Management, LLC in New Haven, Conn. Babson Capital is a member of the MassMutual Financial Group and is on the web at www.BabsonCapital.com.