Huron Capital has launched Spring & Sprout. Based in Michigan, Spring & Sprout will provide support services to dental practices in Ohio.
DETROIT, June 23, 2014 /PRNewswire/ — Huron Capital Partners (“Huron Capital”) today announced the formation of a new platform investment in the dental market, and the simultaneous recapitalization of Michigan-based Spring & Sprout Dental Holdings, LLC (“Spring & Sprout”). Spring & Sprout is a dental support organization (“DSO”) formed to provide practice support services to dental specialists in pediatric dentistry and orthodontics. Spring & Sprout will initially provide its support services to dental practices in Ohio, with plans to expand its presence through the Midwest and into the South.
In launching this buy-and-build initiative, Huron Capital has partnered with dental industry veteran and Huron Capital operating partner, Michael Schwartz. Schwartz was previously the CEO of Corner Dental, a DSO supporting general dentistry practices in Ohio. Schwartz and Huron Capital formed Spring & Sprout along with fellow industry veterans, Mick Janness and Jim Usdan, with the vision to build it into the largest DSO exclusively serving pediatric and orthodontic specialty dental practices in the U.S.
Schwartz said, “We are extremely excited to be partnering with Huron Capital in this endeavor. Huron Capital has significant experience in the DSO space through its investment in Dynamic Dental Partners Group, and we look forward to working alongside Huron Capital to execute our buy-and-build strategy in the pediatric dental specialty market. Spring & Sprout has assembled an excellent team with a strong pipeline of growth opportunities, and we are thrilled to have access to the financial and operational resources of Huron Capital at our disposal to achieve our strategic goals.”
Nick Barker, Partner at Huron Capital, added: “Huron Capital is very excited to partner with Michael and his team. They have laid out a very thoughtful thesis around the opportunity in the pediatric dental specialty market, and have built an excellent team to execute their plans. Spring & Sprout has several opportunities for growth and we look forward to supporting them in every way we can.”
About Huron Capital Partners LLC
Huron Capital is an operationally-focused private equity investor that seeks to grow lower middle- market companies through customized buy-and-build strategies. Huron Capital pursues opportunities where it can help companies reach their full potential by combining its operational approach, capital base, and transaction experience with proven operating executives. Founded in 1999, Huron Capital has raised over $1.1 billion in capital through four committed private equity funds and its portfolio companies have employed over 7,500 people throughout North America. With offices in Detroit and Toronto, Huron Capital’s buy-and-build investment model includes recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes Specialty Manufacturing, Business Services, Consumer Goods & Services, and Healthcare. For more information, please visit www.huroncapital.com.