The chain of dental clinics DentalPro, 21% owned by VAM Investments, has acquired 100% of Giovanni Bona Dental Clinics Group, creating the biggest group in the Italian dentistry market, with an expected turnover of over 100 million Euro in 2016.
With this combination DentalPro clinics increase from 46 to 80, with more than 20 further clinics to open during 2016.
The new DentalPro Group is led by founder Michel Cohen as Chairman and Managing Director. Blasco De Felice joins the team as General Manager, reporting to Cohen, with a mandate for the integration of the two companies.
The acquisition was financed in part by shareholders’ equity, and in part by financial leverage supplied by Pemberton Asset Management debt fund, based in London.
DentalPro has been part of VAM Investments portfolio since November 2011. Starting from April 2015 it is 58% controlled by the US private equity fund Summit Partners.
As part of the transaction VAM increased its investment by a further 2.1 million Euro.
Advisors of the buyer were N+1 (financial advisor), White & Case (legal advisor) and Ernst & Young (accounting & tax due diligence).
VAM Investments is the private equity holding company founded by Marco Piana and Ennio Valerio Boccardi, focused on growth capital and buyout investments. VAM portfolio includes: Soundreef, a company engaged in the collection of music royalties; the online travel agency Yalla Yalla; the online marketplace for B2C fashion goods sales Privategriffe; and Genny Mobility, maker of the revolutionary two-wheel self-balancing motor chair for the disabled.