The Riverside Company has sold its stake in Plantation, Florida-based DentalPlans.com, a dental care plans provider. The buyer was not specified. No financial terms were disclosed. Jones Day provided legal counsel while Piper Jaffray represented DentalPlans.com.
The Riverside Company has exited its investment in DentalPlans.com, the clear national leader for consumer-selected dental care plans. DentalPlans.com is based in Plantation, Florida and provides an array of plan offerings across the United States.
DentalPlans.com offers members access to more than 40 different plans which in turn offer discounts of 10% to 60% on most dental procedures from more than 140,000 participating dentists throughout the U.S., UK and Puerto Rico. The company’s user-friendly online tools deliver high customer satisfaction, allowing consumers to compare a broad range of plans with clear pricing. DentalPlans.com backs its offerings with outstanding customer service.
At investment in 2012, Riverside recognized DentalPlans’ significant growth opportunities amid consumers’ increasing demand for cost-effective health options, and worked with the company’s management team to develop and enhance DentalPlans.com in a variety of ways.
“DentalPlans.com is a great company and offered a number of avenues for expansion,” said Riverside Managing Partner Suzy Kriscunas. “Our team focused on improving sales and renewal rates, as well introducing new products and building scalable infrastructure.”
During the hold, DentalPlans.com grew sales and EBITDA by 70% and 41%, respectively. Riverside expanded the sales and marketing efforts to better communicate DentalPlans’ clear value proposition to existing and prospective customers. Riverside also worked with DentalPlans.com to improve its systems and make key management hires.
“DentalPlans.com is the premier marketplace for dental and ancillary healthcare savings options,” said Riverside Principal Steve Burns. “We are delighted to have helped the company enhance its market leadership position, and bring exciting dental and healthcare savings options to an ever-growing membership base through our partnership.”
Working with Kriscunas and Burns on the transaction for Riverside were Senior Associate Caroline Shettle, Associate Dominic Zingarelli and Operating Partner Steve Stubitz. Origination Principal Amy Margolis helped facilitate the exit for Riverside.
Jones Day provided legal counsel. Piper Jaffray represented DentalPlans.com.
The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 470 transactions. The firm’s international portfolio includes more than 80 companies.