Pine Tree Equity III LP has acquired a minority stake in Smile Design Dentistry. No financial terms were disclosed. Based in Tampa, Florida, Smile Design is a dental care services provider.
Pine Tree Equity III, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that it has made a minority investment in Smile Design Dentistry (“Smile Design” or the “Company”) in March 2015. The Company, founded in 2004 and headquartered in Tampa, FL, provides comprehensive dental care services across 14 Smile Design branded offices in Florida. For additional information, please visit www.thesmiledesign.com.
The Company operates in the $125.0 billion dental care market, which is projected to grow at 5.5% annually through 2020. Growth has been driven by several factors, including an aging population and enhanced awareness of dental hygiene. Moreover, the dental market is incredibly resilient as the industry has not experienced a negative growth year in the past nearly 50 years. Private dental practices represented one of the nation’s most profitable industries during the economic downturn.
Pine Tree Equity made a minority investment in partnership with the founders that remain in legal and operating control of the business. Smile Design remains a family owned and run business where the patients can continue to enjoy continuity of service from their same doctors that they have trusted over the years. The capital, however, will allow the founders to continue their exceptionally strong history of expanding their facility and physician capacity to capitalize on the strong trends in the dental care market. Smile Design marks Pine Tree Equity’s 2nd investment in the healthcare services industry and 29th investment since Pine Tree Equity’s inception in 2007.
Pine Tree Equity
Pine Tree Equity, based in Miami, FL, is a private equity firm with nearly $200.0 million of committed equity capital focused on the investment in and expansion of small capitalization companies – with revenue of $10.0 million to $50.0 million – in partnership with management. For additional information, please visit www.pinetreeequity.com or please call Jeff Settembrino at (305) 808-9820.