After a six-year partnership, Sterling Partners is selling Kids Care Dental & Orthodontics, a California based multi-site dental practice for children and adolescents.
The buyer happens to be RiverGlade Capital, a private equity firm founded in 2017 by Danny Rosenberg and Garrick Rice, two former executives at Sterling Partners. No financial terms were disclosed.
Founded in 2002, Kids Care has a significant presence in Northern California. Kids Care Dental is the market-share leader with over 150,000 patient visits per year and a growing team of nearly 300 clinical and non-clinical practice-based staff. It has 29 facilities in California and 43 practicing dentists.
This deal adds to a growing trend in which private equity firms and their portfolio companies acquire dental groups. Western Dental Services, a portfolio company of New Mountain Capital since 2012, acquired at least three practices and a dental service organization (DSO) in 2018.
CORDENTAL Group, a dental support organization and portfolio company of New MainStream Capital, acquired five dental practices last year. However, there were only a few pediatric dental deals specifically: Amulet Capital Partners, LP purchase of Children’s Choice Pediatric Dental Care and The Beekman Group purchase of Riccobene Associates Family Dentistry. None of these deals had disclosed terms.
RiverGlade Capital, based in Chicago, Illinois, is a healthcare services-focused private equity firm that invests in founder-owned, high-quality, differentiated businesses with over $3 million of EBITDA.
