West Palm Beach, FL – Comvest Partners (“Comvest”) is pleased to announce an investment in Leixir Dental Group (“Leixir” or the “Company”), a technology-enabled provider of outsourced dental solutions serving both independent dentists and dental service organizations (“DSOs”) as well as technology and distribution companies. The Company operates five dental laboratories across the U.S. in addition to a digital design and manufacturing facility in Gurugram, India. Harmeet Bindra, founder of Leixir, will continue in his role as CEO and Executive Chairman.
“Today’s dental market demands high-quality production, fast turnaround times, digital design capabilities, and competitive pricing. Leixir is uniquely positioned to address all of these needs,” said Lee Bryan, Senior Partner at Comvest Partners. “Harmeet has built a truly impressive business, and we are very excited to partner with him and the Leixir management team.”
“This transaction represents an important milestone for Leixir. I am proud of the growth our team has achieved and believe Comvest is the ideal partner to support our future growth initiatives,” said Harmeet Bindra. “Comvest brings significant resources, a collaborative approach with management as well as extensive experience creating strategic and operational value for their portfolio companies.”
“Leixir is pushing the boundaries and redefining the role of today’s dental lab. The Company’s digital capabilities and proprietary end-to-end case management platform, MyLabConnect, are true differentiators which should enable Leixir to continue to capture market share,” said Marshall Griffin, Principal at Comvest Partners. “We look forward to working with Harmeet and the team at Leixir as the Company accelerates its growth trajectory as an industry-leading dental lab solutions platform.”
McDermott Will & Emery served as legal advisor to Comvest. Cain Brothers, a division of KeyBanc Capital Markets, acted as financial advisor and Orrick, Herrington & Sutcliffe LLP acted as legal advisor to Leixir in connection with the transaction. Financing for the transaction was provided by NXT Capital.
About Leixir Dental Group
Founded in 2013, Leixir operates a network of full-service dental laboratories which offer a complete range of dental products, including crowns and bridges, implants, surgical guides, and dentures, among other dental products. Leixir’s laboratories are built on a centers of excellence model and located strategically to provide dentists with superior services across the country. Leixir has built a fully scalable tech-enabled platform to support its delivery of differentiated services and technology throughout the dental landscape. For more information, please visit www.leixir.com.
About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Since its founding in 2000, Comvest Partners has invested over $5.8 billion. Today, Comvest Partners has $4.7 billion of assets under management. Through its extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit www.comvest.com.
For more information, please contact:
Marshall Griffin, Principal, Comvest Partners – M.Griffin@comvest.com
Carlos Soto, Managing Director, Comvest Partners – C.Soto@comvest.com