Jacobs Holding AG, a Zurich investment firm, has reached an agreement with Boston’s Abry Partners, Cleveland’s The Riverside Co., and co-founders Ken Cooper and Dr. Andrew Matta, to acquire Pittsburgh-headquartered North American Dental Group. The founding partners and the company’s dentist partners will retain a significant equity position following the closing of the transaction.
NADG, the fastest growing dental services organization of scale in the United States, consists of a network of over 200 dental practices in 11 states and 23 regional markets. Additionally, the partners will remain actively engaged in the expansion across the U.S.
The transaction is expected to finalize in the third quarter of 2019, subject to customary regulatory approvals. No financial details of the transaction have been disclosed.
The deal for 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, a European dental care provider that is majority owned by Jacobs Holding. NADG and CDG will have combined annual revenues of more than $900 million and more than 450 practices.
“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.” NADG CEO Cooper said, in a statement.
Jefferies LLC served as exclusive financial adviser to NADG.