Houlihan Lokey Advises DryShield

Houlihan Lokey is pleased to announce that DryShield® has been acquired by Solmetex, a portfolio company of Avista Capital Partners (Avista).

Based in Fountain Valley, California, DryShield is a dental innovator of in-treatment patient isolation products, combining high suction evacuation, bite block, tongue shield, and oral pathway protector into one technology. DryShield enables dental practices to treat patients more efficiently while bringing a new level of comfort to patients in procedure. DryShield brings a history of innovation in the development of dental technologies designed to bring unmatched levels of ease, comfort, and safety to dentists and their patients.

Solmetex provides waste management solutions through a series of specialized processes and systems that remove mercury from the waste stream. Solmetex is the dental industry's leading provider of amalgam separators and other waste compliance products. With the recent acquisition of DryShield, as well as Sterisil, a leading innovator of dental unit water line infection control products, Solmetex is now a large, diversified business and the category leader in dental water treatment and safety management for the U.S. and international markets.

Founded in 2005, Avista Capital is a leading New York–based private equity firm with nearly $8 billion invested in more than 40 growth-oriented healthcare businesses globally. Avista’s leadership team has invested together for over two decades in the healthcare sector. Avista aims to partner with businesses that feature strong management teams, stable cash flows, and robust growth prospects—targeting product and technology businesses with clear scale potential across sectors experiencing strong tailwinds.

Houlihan Lokey served as the exclusive financial advisor to DryShield.

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 advisor for global healthcare M&A transactions under $1 billion by Refinitiv.*

*Excludes accounting firms and brokers.