Chicago-based Elite Dental Partners, a leading dental support organization (DSO) renowned for its doctor-led and growth-focused approach, has successfully completed a majority recapitalization. This significant investment comes from Cressey & Company (“Cressey”), a prominent private investment firm, who will partner with existing shareholders Tyree & D’Angelo Partners (“TDP”) and the current management team to drive further expansion and enhance support for dental professionals.
Founded in 2014 and headquartered in the heart of Chicago, Illinois, Elite Dental Partners has rapidly emerged as one of the fastest-growing DSOs in the United States. Currently supporting over 80 affiliated dental offices across 10 states, the company’s network includes more than 130 dentists providing essential general dentistry services to a broad and expanding patient base. Elite Dental Partners has demonstrated a strong growth trajectory through strategic affiliations and the establishment of new locations, consistently strengthening its presence in existing markets. The organization prides itself on maintaining an exceptional reputation, built upon a dentist-first culture that prioritizes improving the professional lives of its practitioners through comprehensive and high-quality non-clinical support services.
Dr. Scott Kalniz, Chief Executive Officer of Elite Dental Partners, stated, “From the outset, our partnership with TDP was driven by a shared vision: to create a highly attractive and supportive platform for doctors. We believed in a more effective, efficient, and enjoyable model for delivering non-clinical support within dentistry. We deeply value our collaborative relationship with TDP and are thrilled to embark on this new chapter with Cressey. This recapitalization marks a pivotal milestone in Elite Dental’s ongoing commitment to providing unwavering support to doctors who are dedicated to delivering exceptional dental care to an increasing number of patients. Cressey’s extensive resources, collaborative approach, and expertise in scaling business services for multi-site healthcare providers will be invaluable in supporting our organization’s rapid growth.”
Merrick Axel, Partner at Cressey & Company, added, “Cressey is excited to partner with both the Management team and TDP to build upon Elite Dental Partners’ impressive history of growth and success. We are particularly drawn to their dentist-centric approach and unwavering commitment to quality clinical care, which we believe are fundamental to their continued success.”
Echoing this sentiment, Tyree and D’Angelo, Co-Chief Executive Officers at TDP, commented, “We are incredibly proud of the strong partnerships and relationships we have cultivated with the Elite Dental Partners management team and the business owners who have joined our network. Together, we executed a collaborative Value Creation Plan that has propelled Elite Dental to become one of the lowest risk and fastest growing dental support organizations in the industry. We are grateful for the trust placed in us by those who have entrusted their businesses and careers to Elite Dental, and we are enthusiastic about continuing to support Elite Dental Partners in its next phase of expansion.”
Houlihan Lokey acted as the exclusive financial advisor to Elite Dental Partners for this transaction. Golub Capital provided GOLD (Golub Capital One-Loan Debt) financing. Legal counsel was provided by Winston & Strawn LLP and Ropes & Gray LLP for Elite Dental Partners, and Kirkland & Ellis LLP and McDermott Will & Emery LLP for Cressey & Company.
About Elite Dental Partners
Elite Dental Partners, based in Chicago, stands out as a premier and rapidly expanding dental support organization in the United States. With a network spanning over 80 offices across 10 states, Elite Dental Partners is committed to growth through affiliations with independent dental practices and the development of de novo locations. The DSO is dedicated to supporting dentists who provide both general and specialized dental services to a growing patient population. For further details, please visit www.elitedentalpartners.com.
About Cressey & Company
Cressey & Company, headquartered in Chicago, IL, is a private investment firm established in 2008. The firm focuses on building leading healthcare businesses across provider services, service sectors, and information technology. Cressey & Company and its predecessor firms bring nearly 35 years of experience in investing in platform businesses and accelerating growth through organic initiatives and strategic acquisitions. With deep sector expertise in healthcare reimbursement and regulatory landscapes, Cressey has invested across nearly every for-profit healthcare niche. More information is available at www.cresseyco.com.
About Tyree & D’Angelo Partners
Tyree & D’Angelo Partners, also based in Chicago, IL, is a leading private equity firm focused on the lower middle market. TDP specializes in control ownership investments in companies with annual revenues under $50 million and EBITDA between $1-$5 million. TDP is committed to building collaborative partnerships with business owners and management teams to drive substantial long-term value creation. To date, TDP has completed over 100 partnerships within its portfolio companies. Additional information can be found at www.tdpfund.com.
About Golub Capital
Golub Capital is a nationally recognized credit asset manager with over $25 billion of capital under management. For over 20 years, Golub Capital has been providing credit solutions to support the growth of medium-sized U.S. businesses. Their award-winning Middle Market Lending business offers financing to middle market companies and their private equity sponsors. Golub Capital’s credit expertise extends to Late Stage Lending and Broadly Syndicated Loan businesses. With over 350 employees, Golub Capital has lending offices in Chicago, New York, and San Francisco. For more information, please visit www.golubcapital.com.
Contacts
Tyree & D’Angelo Partners
Enzo D’Angelo
Co-Chief Executive Officer and Managing Partner
[email protected]
or
Tyree & D’Angelo Partners
Michael Tyree
Co-Chief Executive Officer and Managing Partner
[email protected]
