Linden Announces Partnership with Smile Doctors, LLC
Chicago, IL (October 20, 2017) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, announced today a partnership with Smile Doctors, LLC (“Smile Doctors” or the “Company”), investing in the Company alongside current shareholders, Sheridan Capital Partners (“Sheridan”) and management. Headquartered in Georgetown, Texas, Smile Doctors is the largest orthodontics-focused dental support organization (“DSO”) in the U.S. The Company services over 90 affiliated practices across 11 states offering both traditional braces and clear aligners.
“We are excited to partner with Linden as we look to enter our next phase of rapid growth. Linden’s deep experience in the oral-care sector, together with their commitment to Smile Doctors’ patient first culture and drive for clinical excellence makes them a perfect partner for the Smile Doctors team. We look forward to collaborating with the Linden team as we continue to bring beautiful, confident smiles, and genuine unforgettable experiences to more patients nationwide,” said Scotte Hudsmith, CEO of Smile Doctors.
“Our investment in Smile Doctors is consistent with our strategy of identifying industry leading companies through dedicated sub-sector teams working in collaboration with our Operating Partners,” said Michael Watts, Partner at Linden. “The Smile Doctors investment is a direct result of our oral-care sub-sector effort developed in conjunction with our Operating Partner Gerard Moufflet. We look forward to supporting the entire Smile Doctors team to accelerate the expansion of the Company.”
“Smile Doctors has quickly established itself as a leader in the orthodontics market, delivering great patient experience backed by excellent clinical and business leadership,” said Gerard Moufflet, Operating Partner at Linden and newly appointed Board Director. Mr. Moufflet brings a wealth of dental sector experience, including through Board positions at Linden oral-care companies, Ranir, Sage Dental, Spear Education and Young Innovations, as well as serving as the prior Chairman of the Board of Fellows at the Harvard Dental School of Medicine.
Kirkland & Ellis LLP and McGuire Woods LLP served as legal advisors to Linden and Sheridan respectively. Houlihan Lokey and William Blair served as the exclusive financial advisors to Linden and Smile Doctors respectively. Twin Brook Capital Partners led the debt financing for the transaction.
About Smile Doctors, LLC
Smile Doctors, LLC is the largest orthodontic dental support organization with over 90 affiliated practices in 11 states. Headquartered in Georgetown, TX, and founded by Dr. Scott Law, Scotte Hudsmith, and Dr. Dana Fender, Smile Doctors focuses exclusively on developing and growing affiliated orthodontic practices. Orthodontists can focus on patient care while receiving the support of experienced professionals who are committed to the growth and success of their practices. Support provided by Smile Doctors includes services related to operations, accounting, marketing, revenue cycle management, and human resources. For more information, please visit: https://www.smiledoctors.com/.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare industry. Linden’s strategy is based upon three elements: i) healthcare specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms in healthcare services, in addition to medical products, pharmaceuticals, and specialty distribution. For more information, please visit www.lindenllc.com.
About Sheridan Capital Partners
Sheridan Capital Partners is a Chicago-based private equity firm focused on leveraged buyouts in the healthcare and consumer sectors. Sheridan targets businesses with enterprise values between $25 million to $150 million operating in the U.S. or Canada, and actively brings its strategic resources to management teams and owners in order to help accelerate growth, build enduring value, and achieve superior results. For more information, please visit: http://sheridancp.com/.