Houlihan Lokey Advises Altima Dental

Houlihan Lokey is pleased to announce that Altima Dental, a portfolio company of Sentinel Capital Partners, has merged with 123Dentist, a portfolio company of Peloton Capital Management, with equity financing from KKR and Heartland Dental.

Altima Dental is one of Canada’s longest-standing premier dental support organizations, founded and led by dentists Dr. George Christodoulou and Dr. Sven Grail. 123Dentist is a leading dental support organization offering alternative partnership models to meet the needs of each individual dentist. The combined business will operate ~350 offices across seven provinces and will continue its dentist-first, patient-focused growth strategy.

Sentinel specializes in buying and building mid-market businesses in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurant, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, going-private transactions, and structured equity investments.

Peloton Capital Management (PCM) is a private equity firm that uses a long-term investment philosophy and sector-focused strategy to partner with founders and management teams to help build exceptional businesses and create attractive returns for investors. PCM’s primary focus is investing in services businesses within the healthcare, financial, and consumer verticals in North America.

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

Heartland Dental is a leading dental support organization providing nonclinical, administrative support services, including world-class continuing education programs and market-leading relationships with trusted manufacturers and distributors. The company is majority owned by KKR.

Houlihan Lokey acted as exclusive financial advisor to Altima Dental.

Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2021, the group closed 43 transactions and was ranked the No. 1 M&A advisor for global healthcare transactions under $1 billion by Refinitiv.* This transaction builds on Houlihan Lokey’s leading track record in the dental sector specifically, having advised on more than 50 transactions, including serving as Altima Dental’s exclusive financial advisor in its recapitalization by Sentinel Capital Partners in 2016.

*Excludes accounting firms and brokers.