The Jordan Co. announced that it has acquired a 75% stake in Zest Anchors, an Escondido, Calif.-based manufacturer of dental attachments. No financial terms were disclosed. peHUB previously reported on the deal.
The Jordan Company, L.P. today announced that The Resolute Fund II, L.P. has acquired 100% of the assets and business of Zest Anchors, Inc. (“Zest”), a second generation family-owned and operated manufacturer of dental attachments. The acquisition, which was completed on December 31, 2009, was made in partnership with the Zuest Family and certain members of management. Terms of the transaction were not disclosed.
Founded in 1972 and headquartered in Escondido, California, Zest is the leading manufacturer of overdenture attachments in the world. As dental implants have gained acceptance within the dental community, the implant industry has grown from an estimated $900 million in global annual sales in 2001 to $3.1 billion in 2008. In 2001, Zest launched its patented LOCATOR® product line, which has achieved worldwide acceptance as the premier removable overdenture attachment device.
Zest’s product line has traditionally addressed the removable full overdenture market rather than permanent or fixed replacements. By targeting this market and not manufacturing its own competitive dental implant, Zest has manufactured a product that is compatible with substantially all of the various OEM implants available to dentists. This allows Zest to reach patients by selling directly to dentists, as well as through implant OEMs and distributors, both domestically and internationally.
“We are delighted to become partners with industry veterans Paul Zuest and Scott Mullaly. We look forward to working with management to capitalize on the global demographic and socioeconomic megatrends supporting dental restoration treatment with Zest’s portfolio of existing and exciting new products,” said Jeb Boucher, Managing Principal of The Jordan Company.
“Zest is acknowledged worldwide as an innovator of dental attachment devices. Our management team has developed a strong pipeline of new products which should propel Zest to the next level of revenues and profitability. We selected The Jordan Company as our partner because they have an excellent track record of helping companies execute their strategic plans and most importantly, the chemistry felt right between our firms,” said Paul Zuest, Chief Executive Officer of Zest.
About The Jordan Company
The Jordan Company (www.thejordancompany.com), founded in 1982, is a leading middle-market private equity firm with over $5 billion of assets under management and a successful track record of investing in and growing businesses across a wide range of industries. The firm’s partners have been investing together for more than two decades, establishing The Jordan Company as one of the most experienced and stable investment teams in private equity. The investment team is supported by the firm’s Operations Management Group, which initiates and supports operational improvements in portfolio companies. The firm generates deal flow through a well-developed network of sourcing relationships. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.
About Zest Anchors
Headquartered in Escondido, CA, Zest Anchors, Inc. (www.zestanchors.com) is a global leader in the manufacturing of dental attachments. Zest develops, manufactures, and distributes dental attachments and related devices in over 45 countries. Every employee of Zest Anchors is dedicated to providing all customers with products and services which meet or exceed requirements, on time, the first and every time. The original ZEST® Anchor Attachment was developed in 1972. Now over 30 years later, the LOCATOR® product line represents Zest’s third generation of attachments and has achieved worldwide acceptance as the premier overdenture attachment in the dental industry. The attachments are stocked in sizes to fit all major brands of implants, as well as for endodontically treated roots.