EQS Group-News: Jacobs Holding AG / Key word(s): Takeover/Expansion
Jacobs Holding to Acquire North American Dental Group
Zurich - August 16, 2019 - Jacobs Holding has reached an agreement with Abry Partners, The Riverside Company, and the co-founders Ken Cooper and Dr. Andrew Matta, to acquire North American Dental Group (NADG). The founding partners and the company's dentist partners will retain a significant equity position following the closing of the transaction. Additionally, the partners will remain actively engaged in the expansion across the United States. The partnership with NADG significantly expands the footprint of Jacobs Holding's dental care activities and creates the first transatlantic dental group. NADG will complement Colosseum Dental Group (CDG), the leading European dental care provider which is majority owned by Jacobs Holding. NADG and CDG will have combined annual revenues of more than USD 900 million and more than 450 practices.
NADG, headquartered in Pittsburgh, Pennsylvania, is the fastest growing dental services organization of scale in the United States and today consists of a network of over 200 dental practices in 11 states and 23 regional markets. The practices are supported by three resource centers and an educational platform that enables dentists to provide patients with a full range of high-quality and multi-disciplinary dental services. The group, operating under regional and local brands with high patient retention, is distinguished for its unique equity partnership with its providers and elevated attention to patient care.
Patrick De Maeseneire, Chairman of CDG and CEO of Jacobs Holding, said: "We are thrilled about the acquisition of NADG, which is a major milestone on our journey to become a global leader in dental care. The U.S. dental care market is highly attractive with significant opportunities to grow further. Ken Cooper and Dr. Andrew Matta created an entrepreneurial culture which serves as a great platform to take an active role in market consolidation. With its high-quality standards in dental and patient care, NADG is a perfect fit with our vision and values."
Ken Cooper, CEO and Co-Founder of North American Dental Group, said: "Founded in 2008, we have built a successful network of practices serving our communities with a comprehensive suite of dental services and offering dentists an opportunity to thrive. Together with our new partner Jacobs Holding we will continue to expand our footprint in North America and to create value for our patients, communities, dentists, and shareholders."
The transaction is expected to complete in the third quarter of 2019, subject to customary regulatory approvals. No financial details of the transaction have been disclosed.
About North American Dental Group
About Jacobs Holding AG
About Abry Partners
About The Riverside Company
Document title: NADG MR 20190816
End of Corporate News