Inverness Graham, a private investment firm based in suburban Philadelphia, has completed the sale of Danville Materials, a manufacturer of consumable restorative products and small equipment for the dental market, to ZEST Anchors, Inc.
This marks the fourth exit for Inverness Graham in the last year and the seventh exit in the last 24 months.
Inverness Graham acquired Danville in December 2013 in a proprietary transaction after a proactive search in the dental industry for consumable product manufacturers. Industry veteran Garrett Sato partnered with Inverness and joined as Chairman and CEO, alongside Danville co-founder, Craig Bruns, who remained as President.
"We are extremely pleased at what the team accomplished at Danville during our two year hold," says Michael Morrissey, Managing Principal of Inverness Graham. "By executing a focused organic and acquisitive approach, we were able to strategically transform the company, accelerate growth and introduce a range of exciting new products, all while doubling EBITDA. The growth, the strength of the product line and the exceptional management team makes Danville a great addition for ZEST Anchors."
Garrett Sato, Chairman and CEO of Danville, says: "Inverness Graham's support and experience was well aligned with our needs as we invested in products and people to drive and support our rapid growth. We're excited for the next chapter as part of the Zest Anchors platform."
