Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Smile Brands, Inc. (“Smile Brands”), portfolio company of Gryphon Investors, Inc. (“Gryphon”), recently completed a debt financing package (the “Financing”) in support of a dividend recapitalization, consisting of a 1st Lien Term Loan, 2nd Lien Term Loan and HoldCo PIK Notes.
Founded in 1998, Smile Brands is a leading Dental Support Organization with 650 affiliated dental offices and 1,100 dentists. Smile Brands provides comprehensive business support services through exclusive long-term agreements with affiliate dental groups, so dentists can spend more time caring for their patients and less time on the administrative, marketing, and financial aspects of operating a dental practice. Through acquisitions and the opening of new dental offices, Smile Brands has become a dominant player in the dental space with a rapidly growing number of affiliated practices across 29 states. Smile Brands is headquartered in Irvine, California.
Founded in 1995, Gryphon Investors is a middle-market private equity firm focused on growing and competitively enhancing companies in partnership with experienced management. Managing over $5.0 billion of equity investments and capital since 1997, the firm has an extensive track record of leading equity investments of $50 million to $300 million per portfolio company with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, professional resources and operational expertise. Gryphon is headquartered in San Francisco, California.
For additional information about this transaction, please contact: