BOSTON, Aug. 10, 2015 (GLOBE NEWSWIRE) -- ABRY Partners ("ABRY"), a Boston-based private equity firm, announced that it has completed the recapitalization of North American Dental Group, LLC ("NADG"), a dental practice management company that provides comprehensive management and administrative services and facilities for six brands across 70 offices located throughout Ohio, Pennsylvania, Michigan and Indiana.
Founded in Youngstown Ohio, and recently relocated to New Castle, PA, North American Dental Group supports dentists that provide a traditional dental experience steeped in a service driven philosophy and with the benefits of a broad, group platform. NADG offers its patients comprehensive general, specialty, and cosmetic dental services, including restorative, prosthodontic, endodontic, oral surgery, periodontics, pediatric, and orthodontic care, with a hospital-like approach to quality assurance and a patient-centric standard of care. The NADG affiliates participate in most dental plans offered in all four states. The group's "One Dental home" full-service delivery model provides high quality dental care to over 500,000 patients annually through its dense network of conveniently-located, modern facilities.
Ken Cooper, President and Chief Executive Officer of NADG, said, "The combination of ABRY's expertise, industry resources, sector knowledge, and experience growing multi-site healthcare services businesses, positions ABRY to be a value-added partner to the company in its next phase of growth. We are very pleased to have the chance to grow the organization a second time with the same team that we trust and admire at ABRY."
John Hunt, Partner at ABRY Partners added, "ABRY is excited to continue its partnership with Ken Cooper and the NADG team. Our partnership is based on a shared vision and strategy, and we look forward to building a significantly expanded platform."
The investment in NADG represents the latest platform in the continuation of ABRY's healthcare investment strategy and is its second investment in the dental industry, following the previous investment in May 2012 in Refresh Dental Holdings, the NADG predecessor.
KeyBanc Capital Markets acted as advisor to NADG, and Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to NADG, and Kirkland & Ellis LLP served as legal counsel to ABRY. Capital Source led the senior credit facility financing.
About ABRY Partners
Founded in 1989 and headquartered in Boston, MA, ABRY Partners is one of the most experienced and successful media, communications, business and information services focused private equity investment firms in North America. Since its founding, ABRY has completed more than $42 billion of transactions, representing investments in more than 450 properties.