Surge Private Equity has acquired Texas-based Access, a network of dentistry practices. The value of the deal was over $30 million. The seller was Dr. Tien Phan who will retain a “significant” stake in the business. Corbel Capital Partners provided the financing for the deal.
DALLAS–(BUSINESS WIRE)–On 4/18/2019, Dallas-based Surge Private Equity (“Surge”) closed its acquisition of Texas-based Access Dental and Lacosta Dental (“Access”) with financing provided by Corbel Capital Partners (“Corbel”). The transaction value was in excess of $30MM with seller Dr. Tien Phan retaining a significant equity stake in the business and Surge obtaining a majority position. Additionally, excess cash was placed on the balance sheet at close to immediately pursue de novo activity.
Started in 2008, Access has built up a growing network of community driven multi-specialty dental practices throughout Texas with locations in Rundberg, William Cannon, Bluestein, 7th Street ATX, Ayers, Kostoryz, Leopard, Port Arthur, and Beaumont. Access focuses on family dentistry with an open-door policy to virtually all patients and payors; the Company serves children, adults, and the aging population all from the same practices which are all open six days a week with extended hours. Each practice is a multi-specialty clinic; services performed in the practices include diagnostic, preventative, restorative, endodontics, periodontics, prosthodontics, oral surgery, orthodontics, and adjunctive services. Hosting weekly events with communities such as pumpkin carvings, Q&A’s at HEBs, Easter egg hunts, and giveaways, Access strives to build lasting connections that impact the community it serves.
Founder Dr. Phan said, “We are eager and excited with this strategic partnership with Surge. Surge brings expertise we need that will assist in expansion of our services to more communities.”
Tom Beauchamp, Partner at Surge Private Equity, said, “We are excited to partner with Dr. Phan who has built such a strong community-based practice. We see the value of care and community and seek to continue to expand compassionate care across Texas with him.”
About Corbel Capital Partners
Founded in 2013, Corbel Capital Partners is an independent investment firm that makes non-control investments in the form of creatively tailored structured debt or equity securities in profitable, lower middle-market businesses. Corbel manages approximately $450 million of institutional capital.
About Surge Private Equity
Surge Private Equity (https://www.SurgePE.com/) is a Dallas-based private equity firm that seeks majority investments in growing businesses with $2-7.5MM of EBITDA. Together with its lending partners, Surge provides entrepreneurs with liquidity and investors with higher yields and greater accessibility through lower investment minimums. Surge primarily invests in companies where the seller will remain on board in an ongoing capacity.