BaltCap-backed Dencap buys Kaarli Hambapolikliinik

The GP injected fresh equity for the transaction from its flagship PE fund, BaltCap Private Equity Fund II. It has now made nine platform investments and deployed most of the €85m it raised in 2014, Unquote understands.

It is the third add-on acquisition to the original platform investment in Unimed. BaltCap combined Unimed with Qvalitas and Medicum Tartu under the Dencap holding company in November 2016. BaltCap said it would continue to assess bolt-on opportunities and would not rule out making one or two more.

BaltCap is also the owner of the Lithuanian InMedica chain of primary care and specialised clinics, and Labochema, which offers laboratory supplies in the Baltic countries.

Company
Kaarli is a dental clinic chain founded in 1998. It has four operating entities – Kaarli Dental Clinic, Sõpruse Dental Clinic, Ülemiste Dental Clinic and Kaarli Dental Laboratory, all based in Tallinn. Across all units, the company has 43 treatment rooms. In 2017, the clinics had 91,801 patient visits and the turnover was €9.4m.

People
BaltCap – Martin Kõdar (managing partner).
Kaarli Hambapolikliinik – Jaanus Põder (board member).

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• Baltcap Management Ltd