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Friedman Fleischer & Lowe Completes Midwest Dental Deal

Middle-market buyout shop Friedman Fleischer & Lowe has completed its acquisition of Midwest Dental, a dental practice management company. Financial terms of the deal were not released. Midwest Dental’s senior management team, which has worked together at the company for nearly 10 years, is investing alongside FFL, and will continue to manage the business, the company said in a written statement. Midwest Dental is based in Mondovi, Wisc.

PRESS RELEASE
Friedman Fleischer & Lowe (FFL), a private equity firm focused on investments in growing middle market companies, today announced that it has completed the purchase of a majority stake in Midwest Dental, a leading dental practice management company. Midwest Dental’s senior management team, which has worked together at the company for nearly 10 years, is investing alongside FFL, and will continue to manage the business going forward. Terms of the investment were not disclosed.

Headquartered in Mondovi, Wisconsin, Midwest Dental is one of the largest dental practice management companies in the United States, serving more than 80 practices in six states. The company’s practices offer a full suite of general dentistry services, including restorative, diagnostic and preventative procedures. Midwest Dental provides its practices with centralized management, administrative and financial services, allowing dentists and clinical staff to devote the majority of their time to patient care.

“We got to know the Friedman Fleischer & Lowe team four years ago, and we are excited to have them as our new financial partner. This partnership will allow us to expand our geographic reach and operations to make critical infrastructure support available to more dental care professionals,” said Dr. Jeffrey Moos, CEO of Midwest Dental, who has been with the business since 1983. “FFL provides us with the financial flexibility to seize new market opportunities as well as proven experience in a variety of healthcare services businesses that will further support the strength and growth of Midwest Dental.”

“Dr. Moos and the senior management team have done a tremendous job in consistently growing Midwest Dental through numerous economic cycles, while continuing to enhance the services it offers to dentists,” said Aaron Money, Managing Director of Friedman Fleischer & Lowe. “We believe Midwest Dental’s robust platform and strong management have positioned it well to expand to serve dental practices across the country, and we have reserved additional capital to support rolling out their management services to a greater number of practices.”

Houlihan Lokey Capital, Inc. was the exclusive advisor to Midwest Dental in the transaction.

About Midwest Dental:
Midwest Dental is one of the largest dental practice management companies in the United States, with more than 80 dental practices across the United States. The Company provides centralized management, administrative and financial services to practices that deliver a full suite of general dentistry services, including restorative, diagnostic and preventative procedures. For more information, visit www.midwest-dental.com.

About Friedman Fleischer & Lowe
Friedman Fleischer & Lowe, LLC is a San Francisco-based private equity firm with approximately $2.5 billion under management that is focused on investing in U.S. middle-market companies. Formed in 1997, FFL’s strategy is to invest in market-leading companies that generate high returns on invested capital and that have strong, defensible competitive positions, attractive growth prospects and outstanding management. Representative investments include: Tempur-Pedic International, Milestone AV Technologies, CapitalSource, Korn/Ferry International and GeoVera Insurance Group. For more information on Friedman Fleischer & Lowe, visit www.fflpartners.com.