GREENWICH, Conn., Nov. 28, 2017 /PRNewswire/ -- L Catterton, the largest and most global consumer-focused privateequity firm in the world,today announced that it has entered into a definitive agreement to sell ClearChoice Holdings, LLC ("ClearChoice"), a market leading dental support organization for a national network of dental implant centers providing consumers
Since its investment in 2011 as part of its consumer health vertical, L Catterton has worked closely with the ClearChoice team to implement a number of operational efficiency, sales and marketing, and new product offering initiatives that have increased the revenue and profitability of ClearChoice by nearly 3x and 5x, respectively. With the support of L Catterton, the ClearChoice network has significantly expanded its footprint, with the opening of ten new centers over the past two years, and double-digit same-center growth across the network. In addition, the company launched new product and service offerings to expand the network's addressable market, and enacted a number of enhancements in center operations to markedly lift patient access to care and profitability. With 39 centers in 22 states, the ClearChoice network is the only multi-unit, multi-regional dental implant network of scale in the U.S.
"With L Catterton's support, we have been able to drive rapid and consistent growth by optimizing the performance of each ClearChoice Dental Implant Center through enhanced training, marketing and sales strategies," said Kevin Mosher, CEO of ClearChoice. "It has been a privilege to partner with L Catterton, and we are grateful for the operational expertise and strategic guidance they have provided us over the past six years. We look forward to continuing this momentum through the next stage of our growth."
"ClearChoice is a highly differentiated business operating in the fastest growing segment of the consumer dental industry, and we are proud of the success and growth that ClearChoice has achieved as part of our global consumer health franchise," said Nik Thukral, a Managing Partner of L Catterton's Buyout Fund. "We are pleased to have worked with Kevin Mosher, Todd DeYoung and their highly talented team, and to have participated in the company's success."
L Catterton's other current consumer health investments include CareDent, a leading chain of dental clinics in Italy; Pain Doctor, an operator of pain clinics and surgical centers throughout the U.S.; and PatientPoint, a provider of patient and physician engagement solutions at the point of care.
About ClearChoice Holdings
Founded in 2004, ClearChoice is a market leader in providing high quality practice management services to a growing network of affiliated same-day dental implant centers. ClearChoice provides comprehensive administrative and non-clinical services to 39 dental implant centers – a network of doctor owned and operated dental treatment centers providing innovative and quality dental implant care – in 22 markets across the United States. ClearChoice centers offer comprehensive dental implant treatment services, and are leaders in full-mouth or whole-arch dental restorations. Each center's main objective is to ensure a high quality of care by not only using specialists to deliver treatment but to have all the specialists at one location working together as an integrated team, with support from advanced imaging equipment and an on-site lab. For more information, please visit http://www.clearchoice.com.
About L Catterton
With over $14 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton's team of more than 140 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 150 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.
L Catterton Contacts
Andi Rose / Julie Oakes Joele Frank, Wilkinson Brimmer Katcher 212-355-4449
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SOURCE L Catterton
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