Sun Capital Partners is gearing up for a sale of ClearChoice, a support organization for dental implant centers across the country, according to people with knowledge of the matter.
Goldman Sachs has been engaged to provide sell-side financial advice to the Greenwood, Colorado, company. It is unclear when the process will formally kick off.
Sources placed ClearChoice’s EBITDA around $90 million to $100 million. While still early, they suggested a deal could ultimately be valued at an EBITDA multiple in the teens.
Sun Capital’s investment in ClearChoice dates to November 2017, when it purchased the company from L Catterton following a Goldman-run process.
The company has grown significantly under the backing of the Boca Raton, Florida, firm – close to doubling EBITDA, which was projected at $50 million-plus for 2017, sources told PE Hub ahead of Sun’s original investment.
ClearChoice’s network has also expanded, with some 65 centers and growing, according to its website. That’s up from 39 locations at the time of Sun’s original investment.
Founded in 2004, ClearChoice is a national network of dental implant centers providing same-day procedures and services to a majority of patients.
The company specializes in complex dental restorations for edentulous patients using a multidisciplinary approach that combines surgical, restorative and laboratory functions in an all-in-one center.
Sun, in addition to ClearChoice, backs healthcare services companies including West Dermatology and Simply Beautiful Smiles.
The firm kept some portfolio company operations open in a legally compliant way through the peak of the crisis, while providing operational support around things like patient and employee communications and reopening protocols, the firm told PE Hub in May.
Elsewhere in dental, Cerberus Capital Management earlier this week acquired National Dentex Labs, the largest network of fully-owned dental labs in the country. Welsh, Carson, Anderson & Stowe previously owned the business.
Sun Capital and Goldman Sachs declined to comment.