Q2-2019 Dental Services Update
Q2-2019 Dental Services Update
Consolidation activity within the dental services segment remained heightened during the second quarter of 2019. There were two large transactions this quarter. AppleWhite Dental was acquired by CORDENTAL, a portfolio company of New MainStream Capital. AppleWhite was previously a portfolio company of Tonka Bay Equity Partners after receiving an investment from Tonka Bay in 2008. AppleWhite began with five clinics and grew to 35 through its partnership with Tonka Bay. Rodeo Dental & Orthodontics also announced its partnership with Bain Capital’s Double Impact Fund. This deal is indicative of the strong investor appetite for pediatric focused dental platforms that focus on underserved populations. Given such strong transaction activity during the first half of 2019, Provident expects to see a strong dental merger & acquisition market for the balance of the year.
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