After Sentinel Capital Partners took a majority interest in MB2 Dental Solutions (MB2), the dental services organization became a prolific buyer in the healthcare M&A market, building a national network of practices. The organization has a presence in 24 states and has partnered with more than 275 dental practices. In 2019, MB2 had an estimated revenue of $320 million. 

Now that partnership has ended. Sentinel Capital Partners is exiting its investment and Charlesbank Capital Partners will become the new majority owner. Charlesbank Capital Partners is a middle-market private investment firm managing more than $7 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit and technology investments. 

No terms were disclosed. The remaining stake in MB2 is held by CEO and founder, Dr. Chris Steven Villanueva, management and its doctor owners, who reinvested a substantial percentage of their equity into MB2. 

MB2 last reported a deal just this past August, according to search results in our Healthcare Deal Database. The practice added Dowagiac Family Dentistry in Dowagiac, Michigan for an undisclosed sum. Dowagiac Family Dentistry is run by Dr. Jonathan Gillesby and provides a variety of dental services from routine exams and cleaning to full-mouth rehabilitation.

In July, MB2 acquired Lake Erie Dental in Erie, Pennsylvania, which provides full-service general and cosmetic dentistry. 

One of MB2’s largest deals came at the end of 2019, when it added CORE Dental Partners in Mesa, Arizona. CORE Dental Partners is a dental management organization that offers operational support to dental physician groups. It has a network of 17 practices, including six pediatric practices.