Tue, 24/06/2014 - 10:11
Huron Capital Partners has formed a platform investment in the dental market and recapitalised Michigan-based Spring & Sprout Dental Holdings.
Spring & Sprout is a dental support organisation (DSO) formed to provide practice support services to dental specialists in paediatric dentistry and orthodontics.
Spring & Sprout will initially provide its support services to dental practices in Ohio, with plans to expand its presence through the Midwest and into the South.
In launching this buy-and-build initiative, Huron Capital has partnered with dental industry veteran and Huron Capital operating partner Michael Schwartz. Schwartz was previously the CEO of Corner Dental, a DSO supporting general dentistry practices in Ohio. Schwartz and Huron Capital formed Spring & Sprout along with fellow industry veterans, Mick Janness and Jim Usdan, with the vision to build it into the largest DSO exclusively serving paediatric and orthodontic specialty dental practices in the US.
Schwartz says: "We are extremely excited to be partnering with Huron Capital in this endeavour. Huron Capital has significant experience in the DSO space through its investment in Dynamic Dental Partners Group, and we look forward to working alongside Huron Capital to execute our buy-and-build strategy in the paediatric dental specialty market. Spring & Sprout has assembled an excellent team with a strong pipeline of growth opportunities, and we are thrilled to have access to the financial and operational resources of Huron Capital at our disposal to achieve our strategic goals."
Nick Barker, partner at Huron Capital, says: "Huron Capital is very excited to partner with Michael and his team. They have laid out a very thoughtful thesis around the opportunity in the paediatric dental specialty market, and have built an excellent team to execute their plans. Spring & Sprout has several opportunities for growth and we look forward to supporting them in every way we can."
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