Linden Completes Recapitalization of Northwestern Management Services
Chicago, IL (October 10, 2012) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, today announced that it has completed the recapitalization of Northwestern Management Services LLC (“NMS”), a dental practice management company that provides comprehensive management and administrative services and facilities for Gentle Dental Group, a branded, upscale retail-based dental services organization with 21 offices in Southeast Florida.
Based in Boca Raton, Florida, Gentle Dental Group provides comprehensive general, specialty and cosmetic dental services, including restorative, prosthodontic, endodontic, oral surgery, periodontic, pediatric, and orthodontic care, and participates in most dental plans offered in Florida. The group’s “one-stop,” full-service delivery model provides high quality dental care to over 175,000 patients through its dense network of conveniently-located, modern facilities.
“We are very impressed with Gentle Dental’s commitment to clinical excellence, its attractive base of retail locations, and its industry-leading operational metrics,” said Tony Davis, a Managing Partner at Linden. “We are excited to partner with the company’s deep and talented management team to continue to grow the business via acquisition and de novo growth.”
The investment in NMS represents the latest platform in the continuation of Linden’s sector-based approach and is its second investment in the oral care industry, following Ranir LLC, a leading private label and contract manufacturer of oral care products. Linden has named Gerard Moufflet, a Linden Operating Partner, to the company’s Board of Directors. Mr. Moufflet has extensive experience in the oral care sector having served as a Director of Ranir, a Director of American Dental Partners, Inc., and as Chairman of the Board of the Harvard Dental School.
David Willens, Vice Chairman and Chief Executive Officer of NMS, added, “The combination of Linden’s industry resources and operating talent, sector knowledge, and experience growing multi-site healthcare services businesses, positions Linden to be a value-added partner to the company in its next phase of growth.”
Harris Williams & Company acted as advisor to NMS, and Kirkland & Ellis LLP served as legal counsel to Linden. Golub Capital led the senior credit facility and mezzanine financing was provided by Babson Capital.