UK lower mid-market private equity firm Synova Capital has sunk its teeth into the dental industry with the purchase of The Dental Buying Group for an undisclosed sum.
DBG operates a membership model providing services to over a third of dental practices across the UK, with more than 4500 members. Participants pay an annual fee to gain access to DBG’s products and services, including dental engineering and radiography services, health and safety provision and training and compliance services. The majority of DBG’s offerings are driven by legislative requirements.
John Rochford, CEO of DBG, said, “I believe that the legislative changes targeted at the dental sector combined with a number of new products and services that we will bring to market will generate significant growth over the next few years.”
Synova raised £70m (€77.7m) for its inaugural fund in December 2007, having started to court investors in September. The firm expected to raise £100m (€111m) by the end of the following January but did not follow up with any announcement detailing a final close on target.
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