Vitaldent completes fundraising

Dental clinic network Vitaldent has secured funding from Intermediate Capital Group to pursue its expansion plans as well as some refinancing. Founded in 1989 by Ernesto Colman, the company currently operates in Spain and Italy.


VITALDENT, Europe’s largest network of dental clinics, today announces it has secured €100 million capital from Intermediate Capital Group plc (ICG) in order to pursue its expansion plans as well as some refinancing.

Founded in 1989 by Ernesto Colman, VITALDENT currently operates in Spain and Italy. The €100 million will enable the company to consolidate its market share in Spain, increase its network in Italy and expand into Poland.

VITALDENT provides comprehensive odontological treatments to patients through its unique business model of franchised and corporate owned clinics. VITALDENT offers a fully integrated network of prosthetic laboratories to implement a high-quality, seamless odontological model.

VITALDENT is the undisputed market leader in Spain and Italy. With an estimated 7% market share in Spain, VITALDENT has about 3 times more clinics than the next biggest dental network. In Italy, VITALDENT ‘s number of clinics is 5 times larger than any other operator.

Currently VITALDENT operates almost 460 dental clinics (including both franchisees and corporate owned clinics). Over 3,400 dentists and 7,200 people in total work for VITALDENT. VITALDENT has treated more than 5,700,000 patients historically and almost 400,000 new patients go to its clinics every year.

VITALDENT is a well-known brand in its home markets, and is willing to replicate this success in new markets. The Company was ranked amongst the top 30 most recognised brands in Spain this year, known for its technology, innovation and professionalism.

The company currently generates approximately €450 million network sales per annum and aims to grow this at 7.5% on average over the next 5 years. FY2013 EBITDA is forecast to be approximately €33 million, up 6% from the previous year.

ICG acted as arranger and Mediobanca as sole coordinator of the debt facility of €100m. VITALDENT was advised by aquisio advisors, Munich.

For further details, please contact:
Bell Pottinger
Daniel de Belder / Emma Kent 0207 861 3232

Helen Barnes +44 203 201 7760

Tom Eckersley / Seda Ambartsumian +44 207 379 5151

About ICG
ICG is a specialist asset manager providing mezzanine finance, private debt, leveraged credit and minority equity, managing €12.1bn of assets in third party funds and proprietary capital. ICG has a large and experienced investment team operating from its head office in London with a strong local network of offices in Paris, Madrid, Stockholm, Frankfurt, Amsterdam, Hong Kong, Sydney, New York, Tokyo and Singapore. ICG has made 10 investments in Spain over the last 10 years. Its stock (ticker symbol: ICP) is listed on the London Stock Exchange. ICG is regulated in the UK by the Financial Conduct Authority (FCA).

About aquisio advisors

aquisio is advising and accompanying entrepreneurs and companies on strategic financing issues, where enterprises as a whole are concerned.

About Mediobanca
Mediobanca – Banca di Credito Finanziario is the leading Italian investment bank. The Mediobanca Group operates through three divisions: Corporate & Private Banking (“CPB”), which provides investment, corporate and private banking services in Italy and the leading European countries through its branch offices located in Frankfurt, London, Madrid and Paris; Consumer & Retail Banking (“C&R”), which brings together the Group’s consumer finance services and retail banking (Compass, CheBanca!); Principal Investing, which bring together all equity investments and AFS. Founded in 1946, Mediobanca has been listed since 1956.