West Palm Beach, Fla. – Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and Sole Lender on a $153 million senior secured credit facility (the “Financing”) for Oak Dental Partners (“Oak Dental”, or the “Company”), an Atlanta-based dental service organization (DSO). The Financing will be used to refinance the Company’s existing debt and support near-term acquisitions. Comvest also made an equity co-investment in the business.
Founded in 2015, Oak Dental focuses on the acquisition and development of pediatric, family dental, and orthodontic practices located primarily in the Southeast. Oak Dental currently partners with 55 affiliated practices across nine states, providing a full suite of non-clinical business support services. Acquired practices retain their names and branding.
“Comvest continues to be an active and committed credit investor in proven, fast-growing healthcare companies,” said Dan Lee, a Partner at Comvest. “We are pleased to provide Oak Dental with a tailored financing solution that addresses the Company’s current needs and provides capital for its future growth initiatives.”
“Oak Dental has more than doubled our affiliated practices in the last two years,” said Lee Provow, CEO of Oak Dental. “Comvest brings extensive healthcare investment experience in multi-site providers and understands the complexities of the DSO model. As a result, Comvest delivered a responsive and significant financing solution that sets the stage for Oak Dental to continue our accelerated pace of acquisitions and investment in our affiliated practices.”
About Oak Dental Partners
Oak Dental Partners is an Atlanta-based Dental Support Organization (“DSO”) with affiliated dental and orthodontic practices across a growing list of states, including AL, GA, FL, TX, MS, SC, NC, VA and PA. For more information, please visit www.oakdentalpartners.com.
About Comvest Credit Partners
Comvest Credit Partners, the direct lending platform of Comvest Partners, focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, and second lien capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $250 million-plus for companies with revenues greater than $20 million. For more information, please visit www.comvest.com/direct-lending.
About Comvest Partners
Comvest Partners is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $8.9 billion in assets, and has invested over $9.9 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.