Linden Capital preps sale of Smile Doctors, Private equity astronaut makes maiden flight into the stars

Private equity astronaut makes maiden flight into the stars while Linden Capital preps sale of Smile Doctors.

Morning! How is activity out there … anything slowing down yet? Seems like every area of private equity is running at full bore, with no hint of a break.

Braces: Linden Capital is prepping a sale of Smile Doctors, an orthodontics-focused dental services organization, Sarah writes this morning on PE Hub. The company is expected to reach $200 million in 2021 Ebitda, up from a projected $38 million in 2017 Ebitda, Sarah writes.

Sheridan Capital Partners and Thurston Group previously backed Smile Doctors.
Smile Doctors’ scale gives it some advantages, but also places it solidly in an area where only a few buyers can realistically pick it up, sources said. Most orthodontics groups sit within the $5 million to $25 million Ebitda range. However, orthodontics practices have not been as much of a focus from a consolidation perspective, unlike general dentistry, according to Sarah. Read the story here on PE Hub.

Triple play: Clearview Capital invested in three companies that it is merging into one large platform focused on retail agency partnering with consumer brands and private label manufacturers. Clearview is merging Infinity Worlds, Belmont Partners Sales LLC and Belmont Partners Sales – St. Louis through its fourth fund.

The firm is partnering with management and with Canopy Capital Partners on the transaction, which closed June 17 and is called I+B. The company will be led by Doug Weiss, founder of Belmont Partners, and Chad Bugos, founder of Infinity Worlds, who will become CEO and chief strategic officer of I+B, respectively.

The investment is the seventh from Clearview’s fourth fund, which closed on $550 million in 2018. Read more here on PE Hub.

Cosmos: We have a private equity astronaut! Mark Bezos, founder of HighPost Capital, ascended into the cosmos alongside his brother, Amazon founder Jeff Bezos. The New Shepard rocket traveled to a height of 66.5 miles in the trip that lasted just over 10 minutes, writes Kirk Falconer on Buyouts this morning.

Mark Bezos launched HighPost in 2019 to invest in mid-market consumer businesses, alongside managing partner and CEO David Moross, who also founded Falconhead Capital. HighPost received a minority investment from Azimut Alternative Capital Partners, the GP stakes arm of Azimut Group. HighPost is in market with its debut fund. Read more here on Buyouts.

That’s it for today! Hit me up with tips n’ gossip, feedback or The Drama at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.