Avista Healthcare Partners , a leading New York-based private equity firm focused exclusively on healthcare, is pleased to announce the successful completion of the sale of Solmetex , a leading provider of dental products, systems, and consumables such as amalgam separation, waterline safety solutions, dental isolation technology, and regenerative biomaterials, to AGIC Capital, a global private equity firm known for creating value for its diverse portfolio companies across Europe, Asia, and the United States. The terms of the transaction were not disclosed.
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This transaction marks a new chapter for Solmetex and underscores its commitment to innovation and excellence in the dental industry. As part of the transaction, Avista has retained a minority stake in the Company to continue supporting its growth alongside AGIC Capital.
Sriram Venkataraman, Partner at Avista, stated, “We have greatly valued our partnership with the Solmetex management team, supporting their significant growth over the past four years. Solmetex’s impressive trajectory has been further bolstered by three strategic acquisitions during our partnership, including Sterisil, Dryshield, and Impladent. These additions have enhanced Solmetex’s product portfolio and positioned the Company for continued success in meeting the evolving needs of the dental market.”
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Gene Dorff, CEO of Solmetex, said, “I have tremendous gratitude for Avista’s instrumental support in helping Solmetex grow from the largest closed-loop dental amalgam waste compliance service provider in North America to a multiple product and water solutions provider to dentists. Solmetex’s extensive product offerings and dedication to delivering high-quality dental consumables and equipment underscore our strong focus on dental waterline safety management, infection control, and cutting-edge regenerative biomaterials.”
Mr. Dorff continued, “We are excited to embark on the next chapter with AGIC Capital as our partner. Their industry expertise and commitment to growth align seamlessly with our vision for Solmetex. Together, we look forward to driving innovation and delivering superior products and services to our customers as we continue to expand our footprint in the dental industry.”
Robert W. Baird & Co. and Houlihan Lokey served as financial advisors to Solmetex. Willkie Farr & Gallagher LLP served as Avista’s legal advisor, and White & Case served as AGIC’s legal advisor.
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Source – PR Newswire
