Silver Oak Services Partners Reaffirms Commitment to Smile Partners
This strategic investment signifies a continuation of the successful partnership between Silver Oak Services Partners and Smile Partners, which began in 2017. Since then, Smile Partners has experienced significant expansion, adding over 75 affiliated offices in four new states. This growth reflects the company’s robust doctor-centric partnership model, which has attracted and retained over 80 doctor owners. Smile Partners has also invested in numerous organic growth initiatives focused on enhancing patient care and driving same-store sales growth.
The continuation fund provides Smile Partners with significant capital to fuel further expansion and strategic initiatives. Importantly, the Silver Oak General Partnership reinvested all of its capital and proceeds from the transaction, demonstrating strong confidence in the company’s future. Smile Partners’ management team and doctor partners also retain substantial ownership, ensuring continued alignment and commitment to the organization’s long-term vision. The fund also includes a substantial unfunded capital commitment to support ongoing growth.
A Testament to Shared Success and Future Growth
Dan Gill, Managing Partner of Silver Oak Services Partners, emphasized the significance of the transaction, stating that it allows Silver Oak to further its partnership with Smile Partners while providing liquidity to existing investors, doctor partners, and the management team. He also expressed gratitude for the support of new institutional investors. Dave Gaspar, CEO of Smile Partners, echoed this sentiment, highlighting the milestone achieved for doctor partners, employees, and the broader management team. He reaffirmed the company’s dedication to providing exceptional patient care. This transaction demonstrates not only the success of Smile Partners but also the strength of Silver Oak Services Partners’ investment strategy. By focusing on building strong partnerships with exceptional management teams, Silver Oak empowers portfolio companies to achieve sustainable growth and industry leadership.
Expert Financial and Legal Counsel Facilitate Transaction
Jefferies, with its combined Private Capital Advisory and Healthcare teams, served as the exclusive financial advisor for the transaction. Kirkland & Ellis provided legal counsel to Silver Oak Services Partners, while Akin Gump advised BlackRock and Hollyport Capital. The involvement of these leading financial and legal institutions further validates the strategic importance of this investment.
Conclusion: A Partnership Poised for Continued Success
The strategic investment from Silver Oak Services Partners and new partners positions Smile Partners for continued growth and innovation in the dental services sector. This partnership underscores Silver Oak’s commitment to investing in high-quality businesses with strong leadership and growth potential. With this new funding, Smile Partners is well-equipped to expand its reach, enhance its services, and continue to deliver exceptional patient care.
