PE-backed Western Dental acquires Guardian’s DSO

Western Dental Services, which is backed by New Mountain Capital LLC, has acquired Guardian Life Insurance Company’s dental service organization. No financial terms were disclosed. Cain Brothers provided financial advice to Guardian on the transaction.


The Guardian Life Insurance Company (“Guardian” or the “Company”) has sold its Dental Service Organization (“DSO”) to Western Dental Services (“Western Dental”). Western Dental is a portfolio company of New Mountain Capital, LLC (“New Mountain”).
Based in New York City, NY, Guardian is a leading mutual life insurance company that provides dental, vision, life, disability and other benefits for individuals, at the workplace and through government sponsored programs. Its DSO business, comprised of more than 60 offices throughout the Western U.S, has a longstanding history and established reputation for providing affordable, high-quality dental care with services including general dentistry, pediatric dentistry and orthodontics. The DSO supports dental offices in Texas under the South Texas Dental brand, in California under the Access Dental and Blue Hills brands, and in Alabama under the Vital Smiles brand.

Cain Brothers served as the exclusive financial advisor to Guardian in connection with the transaction.

Western Dental (with its affiliates, including Brident Dental & Orthodontics) is a national leader in accessible, high quality, affordable oral healthcare with approximately 2.5 million patient visits annually in 249 affiliated offices throughout California, Texas, Arizona and Nevada.

New Mountain, together with its affiliates, manages private equity, public equity and credit capital with aggregate assets under management totaling more than $20 billion. New Mountain has raised over $17.0 billion of committed capital across five private equity funds since inception.

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Cain Brothers, a division of KeyBanc Capital Markets, is a pre-eminent healthcare investment bank. We deliver innovative solutions and fresh ideas to our clients in mergers & acquisitions, debt and equity financing, and strategic and financial advisory from our offices across the country. Our deep knowledge of the industry is matched with the knowhow needed to efficiently execute the most complex transactions of all sizes. With our exclusive focus on healthcare services, medical technology and life sciences, we have an unobstructed view of this rapidly evolving industry that enables us to provide unique perspectives to our clients.