Private equity-backed Dentalcorp to explore strategic options

Dentalcorp has formed a special committee to review and evaluate strategic alternatives that may be available "to unlock shareholder value."

  • Last year, Dentalcorp closed an initial public offering on the Toronto Stock Exchange, bringing in C$700 million
  • While listed, the company remains backed by private equity firms, among them L Catterton and Imperial Capital Group

Dentalcorp, a Toronto-based network of dental practices, said its board of directors has formed a special committee to review and evaluate strategic alternatives that may be available to the company “to unlock shareholder value.”

“Our management team is fully aligned with the Board’s decision to explore options to maximize shareholder value, including in response to unsolicited expressions of interest that have been received,” said Graham Rosenberg, Dentalcorp’s CEO and chairman, in a statement. “We are the clear leader in Canada underpinned by our continued strong business performance and the tremendous growth opportunities before us.”

There can be no assurance that this process will lead to the approval or completion of any transaction, the company said.

Last year, Dentalcorp closed an initial public offering of subordinate voting shares on the Toronto Stock Exchange, bringing in C$700 million. It also wrapped up a concurrent private placement, generating C$250 million.

While listed, the company remains backed by private equity firms, among them L Catterton and Imperial Capital Group.

Jefferies, TD Securities and CIBC World Markets are acting as financial advisors to the special committee, and McCarthy Tetrault is acting as legal advisor. Blake, Cassels & Graydon acts as legal counsel to the company.