BC Partners to acquire DentalPro

MILAN/LONDON – 22 May 2017 – Funds advised by BC Partners (“BC Partners”), a leading private equity firm, have reached an agreement to acquire DentalPro, Italy’s leading dental services provider, from Summit Partners, VAM Investments and other private investors. The transaction is subject to regulatory approvals.

Founded in 2010 in Milan, DentalPro is the market leader in the Italian dental clinic market, offering high-quality dental care through 112 full-service clinics. Operating across 40 Italian provinces, DentalPro partners with local dentists to provide comprehensive practice management support and training, allowing practitioners to focus on delivering accessible care to their patients.

DentalPro has grown at an impressive pace over recent years, opening more than 50 new clinics since 2012, completing two acquisitions in 2016 to add more than 40 clinics, and delivering revenue and EBITDA growth of over 100% per annum, with best-in-class unit economics.

BC Partners has invested in Italy for almost 30 years, most recently through its investments in the leading Italian casual dining chain Cigierre and Italy’s largest apparel retailer OVS. The firm also has strong expertise in the healthcare sector, having invested in Synlab, Europe’s largest laboratory service provider; Elysium, UK’s leading provider of mental health services; and in leading hospital groups across Europe, such as GHG, Hirslanden and Teknon.

Nikos Stathopoulos, Managing Partner at BC Partners, commented: "DentalPro is one of the fastest growing companies in Italy, operating in one of the most attractive healthcare segments in Europe. As the market leader, it represents the best platform to consolidate the fragmented dental services market in Italy and expand internationally. We look forward to partnering with the founder and CEO Michel Cohen and his entrepreneurial management team to continue the expansion of DentalPro’s network."

Michel Cohen, founder and CEO of DentalPro, commented: "I am particularly proud and honoured that an important investor as BC Partners has decided to partner with DentalPro to further consolidate our high-quality services. In just seven years we have become the leader in Italy, with 112 clinics and 250,000 satisfied patients and believe there is scope to further develop these successful results with BC Partners’ help. The management team look forward to working with our new partners and would like to thank Summit Partners for supporting our development."

Thomas Tarnowski, a Managing Director at Summit Partners, commented: "It has been an honour to work alongside Michel Cohen and the entire DentalPro team, supporting their vision of offering innovative and accessible high-quality dental care to patients across Italy. We are delighted to transition DentalPro to BC Partners for the next phase of the company´s growth."

BC Partners was advised by PwC and supported by Chiomenti and Dickson Minto on legal and Facchini, Rossi & Soci on tax matters. White & Case LLP served as legal advisor to Summit Partners and DentalPro. BonelliErede served as legal advisor to management.

About BC Partners

BC Partners is a leading international private equity firm with over €15 billion of assets under management. Established in 1986, BC Partners has played an active role in developing the European buy-out market for nearly three decades. BC Partners executives operate as an integrated team through the firm's offices in Europe and North America, acquiring and developing businesses to create value in partnership with management. Since inception, BC Partners has completed 93 investments in companies with a total enterprise value of €115 billion and is currently investing its tenth private equity fund. For more information, please visit www.bcpartners.com.

About DentalPro

Founded in 2010 and headquartered in Milan, DentalPro (DP Group SpA) owns and operates an Italian network of dental clinics that offer a wide range of high-quality dental services from general dentistry to more sophisticated procedures in convenient and modern settings. DentalPro provides top-tier practice management support to dentists, allowing them to focus on delivering care. For more information, visit www.dentalpro.it.

About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm that is currently investing more than $9.5 billion into growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the global economy and has invested in more than 440 companies in healthcare, life sciences, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 170 have been acquired through strategic mergers and sales. Notable healthcare companies financed by Summit Partners include American Dental Partners, AmeriPath, HealthCare Partners, Independent Vetcare, Lincare, National Veterinary Associates, MEDNAX, My Dentist and Solutionreach. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.