ADP Goes Ahead with JLL Partners

Dental group practice American Dental Partners has announced the expiration of the 40-day “go-shop” period during which the company solicited alternative proposals to the acquisition of the company by JLL Partners. After a broad solicitation of financial and strategic parties during the period, the company did not receive any acquisition proposals. The company expects the transaction to close in the first quarter of 2012.

PRESS RELEASE

American Dental Partners, Inc. (Nasdaq:ADPI – News) (“American Dental Partners” or the “Company”) today announced the expiration of the 40-day “go-shop” period during which the Company solicited alternative proposals to the proposed acquisition of the Company by funds affiliated with JLL Partners, Inc. (“JLL”), a leading private equity fund. The “go-shop” process was expressly contemplated by the previously announced Agreement and Plan of Merger, dated as of November 4, 2011, that the Company entered into with JLL Crown Holdings, LLC, a Delaware limited liability company, and JLL Crown Merger Sub, Inc.
After a broad solicitation of financial and strategic parties during the go-shop period, which ended at 11:59 p.m. (Eastern time) on December 14, 2011, the Company did not receive any acquisition proposals.
The Company expects the transaction to close in the first quarter of 2012, subject to satisfaction of the closing conditions described in the merger agreement, including receipt of stockholder approval.
Greenhill & Co, LLC is the financial advisor to the special committee of the Company’s board of directors, and BofA Merrill Lynch is the financial advisor to the Company’s board of directors.
About American Dental Partners
American Dental Partners is one of the nation’s leading business partners to dental group practices. The Company is affiliated with 27 dental group practices, which have 282 dental facilities with approximately 2,404 operatories located in 21 states.
About JLL
JLL Partners is a New York-based leading private equity investment firm with approximately $4 billion of capital under management. JLL’s investment philosophy is to partner with outstanding management teams and invest with them in companies that they can continue to grow into market leaders. JLL has invested in a variety of industries, with special focus on healthcare services, financial services and business services.