The business, which was launched by dentists Haleh and Golnar Abivardi in 2002, has a 28 per cent market share among Swiss dental chains and has franchises and joint ventures in the UK, Russia and India.
Swiss Smile said it planned to use the new funding to expand in Switzerland, mainly through acquiring top-quality clinics.
EQT industrial advisor Stanley Brodén, who has been designated vice chairman of the Swiss Smile board, said, “The Swiss dental market is attractive, not the least because it is extremely fragmented.
“Swiss Smile has a proven track record in expanding both organically and through acquisitions and we are happy to partner with the founders in the continued growth and development of this well positioned business.”
Earlier this week UK private equity firm Dunedin made a 2.8 times return exiting its investment in dental membership plan Practice Plan Group through a sale to mutual fund Wesleyan Assurance Society for an undisclosed sum.
Dunedin backed the management buyout for the company back in 2005. At the time the company had a turnover of £5m.
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