NEW YORK--(BUSINESS WIRE)--Harvest Partners, LP (“Harvest”), a New York-based private equity firm, and the management team of DCA Investment Holding LLC (“DCA” or the “Company”) have completed the acquisition of the Company from Quad-C Management, Inc. (“Quad-C”), a Charlottesville, VA-based private equity firm. Terms of the transaction were not disclosed.
DCA is one of the largest multi-branded dental support organizations in the U.S., with 157 affiliated dental offices across eight states supporting over 382 dentists. DCA provides a broad spectrum of back office business support to general and specialty dental offices treating patients of all ages, with various dental health needs and socioeconomic statuses. The management team of DCA, led by CEO Mitch Olan and CFO David Nichols, will continue to lead the Company.
“Harvest has a wealth of experience in healthcare services and a great appreciation for our commitment to improving the well-being of our affiliated dentists and their patients,” Mr. Olan said. “We are enthusiastic about our new partnership and look forward to executing on a number of opportunities in the market to support our continued growth.”
“DCA is one of the most attractive platforms we’ve seen in the dental services sector. Mitch, Dave and Quad-C have done an impressive job of building a growing, well-diversified platform. They had their pick of financial sponsors, so we are honored they chose to work with Harvest,” said Jay Wilkins, Senior Managing Director at Harvest Partners. DCA represents the fourth proprietary healthcare deal for Harvest in the past 15 months. “The dental practice support model offers clear benefits to patients, dentists and payors. DCA is a leading platform in the dental space and we’re excited to continue building upon the Company’s track record of success,” added Ira Kleinman, Senior Managing Director at Harvest Partners.
Senior debt was arranged by Golub Capital and Ares Capital Corporation. Mezzanine debt and preferred equity financing was provided by Crescent Capital. Jefferies LLC advised Harvest. Houlihan Lokey advised the Company. Ira Kleinman, Jay Wilkins and Paige Daly will be joining the Board of Directors. Harvest Partners’ Michael Greenman and Matt LoSardo also worked on the transaction.
About DCA
DCA (www.dentalcarealliance.com) is one of the largest multi-branded dental support organizations in the U.S. The Company, founded in 1991 and headquartered in Sarasota, FL, supports a network of 157 practices across eight states in the Midwest, Mid-Atlantic and Southeast U.S. DCA affiliated practices provide a full suite of dental services, including general dentistry, hygiene, pediatric dentistry, orthodontics, endodontics, periodontics and oral surgery.
About Harvest Partners
Founded in 1981, Harvest Partners, LP (www.harvestpartners.com) is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle market companies in North America. Harvest focuses on acquiring profitable companies in the healthcare services, business services and consumer, industrial and energy services, and manufacturing and distribution sectors.