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Sentinel exits Altima Dental via merger with 123Dentist

Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, has closed the merger of its portfolio company, Altima Dental, with 123Dentist, a dental support organization (DSO) based in Vancouver, to create one of the largest DSOs in Canada. 

The transaction was financed through equity capital provided by 123Dentist’s existing private equity sponsor, Peloton Capital Management, and new investors KKR, a leading global investment firm, and Heartland Dental, a KKR portfolio company and the leading dental support organization in the US Sentinel will retain a minority equity stake in the combined company. Terms of the deal were not disclosed.

Altima Dental, headquartered in Toronto, was Sentinel’s fifth investment in the dental sector at the time of the closing in 2016. In 2019, Altima merged with Quebec-based Lapointe Group, creating a leading DSO with offices in six provinces across Canada. In July 2022, Altima Dental and 123Dentist announced the plan to merge all three entities to create one of the largest DSOs in Canada with a network of 350 clinics servicing the entire country with a presence in every major metropolitan market. 

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