The private equity firm Gryphon Investors recently acquired Smile Brands, an Irvine, Calif.-based company that provides business support services to dental groups.
Here's what you need to know:
1. Smile Brands provides long-term administrative, marketing and financial support to its affiliate dental groups, which include almost 350 Bright Now! Dental, Monarch Dental and Castle Dental offices in 17 states throughout the United States.
2. Last year, Gryphon Investors formed a partnership with former Smile Brands CEO Steven C. Bilt and former Smile Brands CFO Bradley E. Schmidt, to establish OneSmile.
3. Through OneSmile, Gryphon Investors hopes to build a comprehensive dental services organization platform that acquires existing dental practices.
4. After the acquisition, Mr. Bilt will again serve as Smile Brands' CEO, and Mr. Schmidt will similarly serve as the company's CFO.
5. The investment bank Houlihan Lokey served as Gryphon Investors' exclusive financial advisor throughout the transaction. Within the last two years, Houlihan Lokey has closed seven dental services organization transactions.