Beach Point Capital Management LP has sold Smile America Partners, the largest school-based mobile dental program in the U.S., to family-owned investment company Kaltroco Ltd.

Neither Beach Point nor Kaltroco in separate releases on Monday, July 13, disclosed financial terms of the transaction.

The exit comes after The Deal reported in February that ReachOut Healthcare America Ltd., which does business as Smile America Partners, was working with advisers to solicit takeover offers.

The Deal reported the Farmington Hills, Mich.-based dental services organization brought in interim CFO Atul Kavthekar in April 2025 to help prepare the company for a sale. Smile America generates roughly $20 million in Ebitda on about $100 million in annual revenue, The Deal said.

Founded in 1997, Smile America provides portable and mobile dental care through school-based programs. The company works with dental practice partners to bring care to children in underserved communities. It served more than 370,000 children across more than 8,000 schools in 20 states in 2025, according to Beach Point.

Beach Point’s Hybrid Solutions strategy first partnered with Smile America in 2020, providing capital as the company navigated Covid-related operating disruptions and school closures. As Smile America recovered, Santa Monica, Calif.-based Beach Point made a follow-on equity investment and acquired majority ownership of the company in January 2023 from Morgan Stanley Capital Partners, which had held the platform for more than a decade.

Beach Point said its investment supported Smile America’s post-Covid recovery plan, including geographic and service-line expansion. During its ownership, the company also expanded its brand and capabilities in Florida.

Beach Point is an alternative investment manager focused on opportunities across the credit spectrum. The firm manages invests across performing credit, opportunistic credit, structured credit and asset-based finance, private credit, direct lending, real estate credit and capital solutions.

Jersey-based Kaltroco invests permanent capital primarily in the U.S., Europe and Africa, taking controlling and partnership stakes.

Kaltroco used Houlihan Lokey Inc. for financial advice and a DLA Piper team of Joydeep Dasmunshi, Merrick J. Doll, Brian A. Tweedie and Rachel Ludwig for counsel.