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JACOBS HOLDING AG EQS-News: Jacobs Holding to Acquire North American Dental Group

Directive transparence : information réglementée

16/08/2019 08:00

EQS Group-News: Jacobs Holding AG / Key word(s): Takeover/Expansion
Jacobs Holding to Acquire North American Dental Group

16.08.2019 / 08:00


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.


Media Contacts:

Jacobs Holding

Andreas Hildenbrand
Lemongrass Communications AG
Phone: +41 79 468 92 35
Email: andreas.hildenbrand@lemongrass.agency

North American Dental Group

Trent Wisser
Phone: +1 330 423 28 41
Email: wissert@nadentalgroup.com

About North American Dental Group
North American Dental Group (NADG), based in Pittsburgh, Pennsylvania, was co-founded by Ken Cooper and Dr. Andrew Matta in 2008. NADG was created to transform the dental experience for its patients, clinicians, and its support teams and today consists of a network of over 200 dental practices in 11 states and 23 regional markets. The values of maintaining an emotionally intelligent approach, to be thoughtful educators, and to display a healthy bravado fuel our day-to-day operational systems. These founding values are alive and well as NADG celebrates its pioneer spirit by solidifying its partnership with Jacobs Holdings AG.

About Jacobs Holding AG
Jacobs Holding AG is a global professional investment firm based in Zurich and founded in 1994 by entrepreneur Klaus J. Jacobs. Jacobs Holding AG takes an entrepreneurial approach to investing in growth, generating value by creating long-term, sustainable market leaders. Jacobs Holding AG's sole economic beneficiary is the Jacobs Foundation, one of the world's leading charitable foundations. Established in Zurich in 1989 by Klaus J. Jacobs and his family, the Foundation's goal is to sustainably support future generations by improving their developmental opportunities, thus enabling them to become socially responsible members of society. The Jacobs Foundation funds research projects and intervention programs and supports scientific institutions to bring about social changes in the area of child and youth development. Over CHF 550 million in cumulative grants has been paid out since the Foundation's establishment in 1989.

About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over USD 82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over USD 5.0 billion of capital across its active funds.

About The Riverside Company
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to USD 400 million. Since its founding in 1988, Riverside has made more than 600 investments. The firm's international private equity and structured capital portfolios include more than 100 companies.

 

 


Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=KOHBDRSMEC
Document title: NADG MR 20190816


End of Corporate News


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