Houlihan Lokey Advises Elite Dental Partners

Houlihan Lokey is pleased to announce that Elite Dental Partners (Elite), a portfolio company of Tyree & D'Angelo Partners (TDP), has completed a majority recapitalization with Cressey & Company (Cressey), which is investing and partnering alongside current shareholders Tyree & D'Angelo Partners and management. The transaction closed on June 12, 2018.

Founded in 2014 and based in Chicago, Illinois, Elite is one of the fastest-growing dental support organizations (DSO) in the United States, with more than 80 affiliated offices across 10 states. The company supports a network of over 130 dentists who provide recurring general dentistry services to an expansive patient base. The company has a strong track record of growth through affiliation and de novo locations and continues to increase its presence in existing geographies. Elite maintains an exceptional reputation in its markets as a result of its dentist-first culture, which focuses on improving the lives of its practitioners through high-quality, non-clinical support services.

Based in Chicago, Illinois, TDP is a leading lower-middle-market private equity firm that makes control ownership investments in businesses that generate less than $50 million of annual revenue and $1 million to $5 million of EBITDA. TDP seeks to establish true collaborative partnerships with business owners and management teams that will lead to substantial creation of value over a long-term investment horizon. To date, TDP has completed over 100 partnerships across its portfolio companies.

Founded in 2008 and headquartered in Chicago, Illinois, Cressey is a private investment firm focused on building leading healthcare provider, service, and information technology businesses. Cressey and its predecessor firms have executed a strategy that invests in leading platform businesses and then accelerates growth both organically and through acquisitions for nearly 35 years. With deep expertise in the healthcare reimbursement and regulatory environments, the Cressey team has invested in almost every for-profit niche of healthcare.

This transaction highlights Houlihan Lokey's continued expertise within the DSO sector. Houlihan Lokey is among the most active advisors in the DSO market, having closed 14 DSO transactions since June 2014. This most recent transaction further strengthens Houlihan Lokey's leadership in the healthcare sector and highlights our continued momentum and leadership in the multi-site healthcare services space.

Houlihan Lokey's Healthcare Group is a recognized leader in M&A advisory and capital-raising services, providing advice to healthcare services, managed care, seniors housing, biopharmaceutical, and life sciences companies. With more than 35 investment bankers in Chicago, Dallas, and New York, Houlihan Lokey's Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. The group closed 21 transactions in 2017 and was ranked the No.1 advisor for U.S. healthcare M&A transactions under $1 billion by Thomson Reuters. Houlihan Lokey's Healthcare Group has closed more than 300 healthcare M&A transactions since inception.