U.S. private equity firm Sentinel Capital Partners has made an undisclosed investment in Altima Dental Centres, a Canadian dental services organization. The platform deal is Sentinel’s fifth in the dental industry. Founded in 1993 by Dr. Sven Grail and Dr. George Christodoulou, Toronto-headquartered Altima operates more than 30 dental clinics in Canada and provides services to more than 200,000 patients annually. Paul Murphy, a partner at Sentinel, said the deal will support the company’s next phase of growth. Sentinel’s other Canadian portfolio investments include The Luminaires Group, which was recapitalized in June 2016.
Sentinel Teams With Altima Dental
REPRESENTS SENTINEL’S FIFTH DENTAL INDUSTRY PLATFORM
NEW YORK, January 3, 2017 – Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, today announced a new partnership with Altima Dental Centres, one of the largest dental services organization in Canada. Terms of the deal were not disclosed.
Headquartered in Toronto, Altima’s clinic network includes offices across six provinces in Canada. Altima-affiliated practices have an excellent reputation for providing high-quality dental services and always putting patients first. Altima’s strategy is to continue growing through affiliation with other dental offices throughout Canada.
“Altima is well known throughout the Canadian market for second-to-none care, top notch providers and staff, and a broad suite of convenient services,” said Paul Murphy, a partner at Sentinel. “Altima’s founders, Drs. Grail and Christodoulou, have built an impressive business during the past 23 years and we’re thrilled to be their partners for Altima’s next phase of growth.”
“During our search for an ideal investment partner, we determined there were three must-haves to ensure success for Altima’s patients and employees: a close cultural alignment between Altima and our partner, deep and successful dental industry experience, and a complementary skill set to help us accelerate Altima’s growth trajectory,” said Dr. Sven Grail, co-founder and co-CEO of Altima. “We are confident we have found all three qualities in Sentinel.”
“Sentinel has shown great respect for the service standards we have built at Altima,” said Dr. George Christodoulou, co-founder and co-CEO of Altima. “Together, we will become even stronger as we continue to improve upon our culture of gold-standard patient care, while providing a thriving environment for our valued team members.”
Sentinel has a well established record of investing in the dental sector, in which Altima represents its fifth platform investment. Most recently, in January 2016, Sentinel sold Northeast Dental Management, a leading provider of dental office support services in the Northeast and Mid-Atlantic. Sentinel’s prior dental investments include Castle Dental and Metro Dentalcare, each a leading regional provider of dental office support services; and ReachOut Healthcare America, a leading provider of support services to mobile dentists.
The past year has been highly productive for Sentinel. Besides Altima, Sentinel has made five other new platform investments: The Luminaires Group, a leading North American manufacturer of specification-grade lighting products; Marketplace Events, the largest operator of consumer home and garden shows in North America; Quick Weight Loss Centers, a multistate provider of highly differentiated weight loss management services; Revenew International, a leading provider of cost recovery and cost containment services; and SONNY’S Enterprises, the worldwide leader in conveyorized car wash systems.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building businesses at the lower end of the middle market in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
About Altima Dental
Altima Dental is one of the largest dental services organizations in Canada. With locations in six provinces countrywide, Altima’s affiliated practices provide high quality general and specialty dental services, including orthodontics and oral surgery. Founded in 1993 by Drs. Sven Grail and George Christodoulou, Altima’s core value is to put patients first, which has enabled it to earn a 96 percent satisfaction rate. For more information about Altima Dental, visit http://www.altimadental.com/.
Contact: Roland Tomforde
Photo courtesy of Altima Dental