• June 26, 2023
  • North America
  • Healthcare

H.I.G. Capital Completes Recapitalization of Advanced Dental Brands

MIAMI – June 26, 2023 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $56 billion of equity capital under management, is pleased to announce that one of its affiliates has completed a significant growth investment in Advanced Dental Brands, LLC (“ADB” or the “Company”).

Founded in 2007 by Dr. Richard Miller, ADB is a leading dental partnership organization (DPO) in the Northeast U.S.  The Company partners with doctor-owners of leading, well-established dental practices, and currently serves almost 40 practices, providing general dentistry as well as specialty services including orthodontics, endodontics, prosthodontics, periodontics, and oral surgery.

The Company’s doctor-first model enables providers to focus on exceptional patient care, resulting in superior service and patient satisfaction across ADB’s clinics. Through its partnership model, ADB provides the flexibility for each practice to maintain its independent brand and culture, reduce the administrative burden, and drive increased earnings potential through the benefits of ADB’s scale and corporate support. Furthermore, new doctor partners retain partial ownership, resulting in significant upside potential.

“We are excited to partner with Dr. Miller and Advanced Dental Brands’ outstanding network of dental practices,” said Camilo E. Horvilleur, Managing Director at H.I.G. Capital.  “H.I.G. will support further investment in the platform and enhance the Company’s value proposition for doctors.  ADB has established itself as the acquiror of choice and we look forward to meaningfully accelerating the growth of the business both organically and through M&A.”

“We are thrilled to enter into this new chapter of growth with H.I.G. Capital,” said Dr. Richard Miller, founder & Executive Chairman of Advanced Dental Brands.  “Over the last fifteen years, ADB’s doctor-led approach has resulted in a track record of successful partnerships with market leading dental practices.  Our mission is to provide the tools and resources for dentists to achieve their goals and practice high quality dentistry, while minimizing the administrative challenges of running their clinics.”

Daiwa Corporate Advisory LLC (“DC Advisory”) served as financial advisor, and Akerman LLP served as legal counsel to H.I.G. in connection with this transaction. Cantor Fitzgerald & Co. served as financial advisor, and Eskow Law Group, LLC served as legal counsel to Advanced Dental Brands.

About Advanced Dental Brands

Advanced Dental Brands is a dental partnership organization (DPO) partnering with nearly 40 dental practices across multiple states. The Company allows its new affiliations to maintain independent brands and ensure that their unique identity and community relationships remain consistent while providing exceptional dentistry. The Company supports its partner practices through marketing support, recruiting and human resources assistance, IT investment, accounting expertise, and expansion of dental services.  ADB continuously invests in its state-of-the-art clinics, including adding new equipment and technology, resulting in best-in-class patient experience and high-quality care.

ADB was founded in 2007 and has approximately 400 employees. The Company provides services across general dentistry and a range of specialty services including orthodontics, endodontics, prosthodontics, periodontics, and oral surgery. For more information about the Company, please visit www.teamadb.com

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative investment firm with $56 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.hig.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Camilo E. Horvilleur
Managing Director

Brandon Cohen

H.I.G. Capital
1450 Brickell Avenue
31st Floor
Miami, FL 33131
P 305.379.2322
F 305.379.2013