New York City-based ICV Partners has made a majority investment in Madison, Wis.-based Cherry Tree Dental, according to a March 16 news release.
Founded in 2006, Cherry Tree is the largest independent general dentistry provider in Wisconsin, operating 28 locations in 10 markets. The dental practice management company is privately owned by a small group of partners, the majority of which are its participating dentists.
"Cherry Tree has emerged from a very challenging year in a superior position and is very well positioned to capitalize on the shifting market dynamics in Wisconsin and surrounding states as more dentists choose to transition from owning their own practice and prefer to focus on serving patients," said Qian Elmore, managing director at ICV Partners. "Cherry Tree is benefiting as dentists relocate from large cities to secondary markets and we look forward to this new partnership to grow the business in new and existing markets throughout Wisconsin."
ICV Partners is a private investment firm that supports management leaders of strong lower middle market companies pursuing growth.