Dental management services provider Select Dental Management LLC is in the market for new investors, industry sources have told The Deal.
Harris Williams & Co. has been conducting an auction process for the business, two industry sources said.
Select Dental generates annual Ebitda in the low double-digits, one of the sources said. First-round bids were due in early December, the source added.
Florham Park, N.J.-based Select Dental, whose backers include RF Investment Partners, provides support services to 38 practices across nine states and Washington, D.C., according to its website. The company was founded in 2018.
Over the past three years, the company had revenue growth of 2,833%, according to the Inc. 5000 list published in August.
In March 2021, RF made senior debt and participating preferred equity investments in Select Dental. The private debt team of Quilvest Capital Partners SA also invested in the company.
Broadly speaking, dental support organization, or DSO, platforms have recently captured Ebitda multiples between 10 and 15 times, and private equity continues to chase deals in the space.
The Deal reported in November that Ottawa-based MCA Dental Group Ltd. is in market, with RBC Capital Markets running the auction.
Editor’s note: The original, full version of this article was published Dec. 20, 2022, on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.
If you’re already a subscriber, log in to view this article here.