Great Expressions Dental Centers, a Bloomfield Hills, Mich.-based operator of nearly 100 dental centers in seven states, has acquired ConsoliDent Inc., a dental chain with 41 affiliated practices in Florida and Michigan. No financial terms were disclosed. Audax Group acquired Great Expressions earlier this year. Harris Williams & Co. served as advisor to ConsoliDent, which had raised VC funding from DFW Capital Partners, RFE Investment Partners and Antares Capital.
Audax Group announced it has completed the acquisition of ConsoliDent, Inc. (“ConsoliDent”). The acquisition of ConsoliDent complements the regional footprint of Great Expressions Dental Centers, Inc. (“Great Expressions”), which Audax Group acquired in May 2008. Headquartered in Miami Gardens, Florida, with 41 affiliated practices in Florida and Michigan operating as Dental Health Group, ConsoliDent is a dental practice management company providing general and specialty services including endodontics, orthodontics, oral surgery, pedodontics, periodontics, and basic dental care to professional corporations. Great Expressions is a dental practice management company with 98 affiliated practices in Michigan, Georgia, Florida, Massachusetts, Ohio, Virginia and Connecticut.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “The acquisition of ConsoliDent, which follows our recent purchase of Great Expressions, creates a unique opportunity to combine two complementary businesses with industry-leading service offerings and build a scale company with regional density in multiple markets. We look forward to working with Richard Beckman and Dr. Robert Brody to integrate the companies and continue to build the business through organic expansion and strategic add-on acquisitions.”
Richard Beckman, Chief Executive Officer of Great Expressions, said “The two companies are a natural fit given their complementary geography and superior levels of customer support and employee satisfaction. We will continue to work with Audax to source and integrate add-on acquisitions as we expand our business.
Dr. Robert Brody, Chief Executive Officer of ConsoliDent, said “We are excited to have Great Expressions and Audax Group as our new partners. Great Expressions and ConsoliDent share a commitment to clinical excellence and care for dental professionals. Audax’ acquisition and operational experience will be a valuable resource for us as we begin our next stage of growth.”
Ropes & Gray LLP advised Audax Group. Harris Williams & Co. advised ConsoliDent. GMAC Commercial Finance and CIT Commercial Finance provided senior debt financing; GMB Mezzanine Capital and Bush O’Donnell Capital Partners, LLC provided mezzanine debt financing to support the transaction.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $4 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website www.audaxgroup.com