CHICAGO, May 21, 2024 – Gen4 Dental Partners (“Gen4”), a portfolio company of the esteemed healthcare-focused private equity firm Thurston Group (“Thurston”), has announced the successful closing of a significant $315 million credit facility. This substantial financing, led by Man Varagon, was oversubscribed, reflecting strong market confidence in Gen4’s innovative approach and growth trajectory. The funds will be strategically deployed to refinance existing debt and to support ongoing acquisitions under letters of intent, positioning Gen4 for accelerated expansion and enhanced service offerings within the dental industry.
Founded in 2021 and based in Tempe, Arizona, Gen4 Dental Partners distinguishes itself as a next-generation dental service organization (DSO) with a unique emphasis on doctor-centered mentorship and operational excellence. The company’s innovative operational model supports a network of approximately 110 dental offices across 14 states, fostering a collaborative environment for over 190 doctors, including more than 100 doctor partners. Gen4’s proven integration framework has facilitated over 45 acquisitions since its inception in 2021, demonstrating its robust capability to expand and integrate new practices effectively. The company maintains a strong acquisition pipeline, continuously pursuing actionable and proprietary opportunities in strategically important markets across the nation. This new credit facility is designed to provide Gen4 with greater financial agility and resources to further extend its national footprint, invest in cutting-edge technologies, and uphold its commitment to delivering exceptional dental care to communities throughout the United States.
Lamonte Jensen, Chief Executive Officer of Gen4 Dental Partners, conveyed his enthusiasm regarding this pivotal financial achievement: “This refinancing marks a significant milestone for Gen4 Dental Partners and clearly illustrates the market’s strong belief in our business model and future growth potential. Equipped with this new facility, we are ideally positioned to accelerate our strategic expansion initiatives, further enhance our service offerings, and continue to provide outstanding dental care to our growing patient base.”
Dan Davis, Managing Partner at Thurston Group, also commented on the successful transaction, stating, “We are delighted to have finalized this refinancing for Gen4 Dental Partners. It underscores our firm commitment to supporting Gen4’s strategic objectives and ambitious growth plans. Gen4 has firmly established itself as a leader within the rapidly evolving dental services sector, and we are confident that this new debt facility, expertly led by our partners at Man Varagon, will significantly propel its continued growth and success.”
Houlihan Lokey and Raymond James acted as placement agents, while Willkie Farr & Gallagher served as legal counsel to Gen4 in this transaction. Man Varagon served as Administrative Agent, Joint Lead Arranger, and Sole Bookrunner.
About Thurston Group
Thurston Group is a leading private equity firm with a 38-year track record of building industry-leading companies, particularly within the healthcare services sector. Demonstrating significant expertise and success, Thurston Group has returned over $4 billion of invested capital. The firm specializes in partnering with physicians and fostering the growth of rapidly expanding businesses. Their notable portfolio includes industry leaders such as Smile Doctors, U.S. Endodontics Partners, US Oral Surgery Management, SGA Dental Partners, U.S. Orthopaedic Partners, Gen4 Dental Partners, ARC Health, Options Medical Weight Loss, Alpha Aesthetics Partners, and Modis Dental Partners, among others, highlighting their deep sector knowledge and operational capabilities.
About Gen4 Dental Partners
Gen4 Dental Partners is a premier dental service organization dedicated to providing comprehensive practice support services to dental practices across the United States. With a core focus on fostering innovation, ensuring high-quality care, and prioritizing a patient-centric approach, Gen4 Dental Partners empowers dental professionals to excel in today’s dynamic healthcare environment. The organization is committed to advancing the dental industry through mentorship, technology integration, and best-in-class operational support.
CONTACT: Dana Hayes III, [email protected]
SOURCE Thurston Group
