Nordic Capital in talks to acquire Oaktree's Hesira

While talks are under way, a final deal has not yet been signed, unquote" understands. Nordic Capital declined to comment.

According to media reports, the value of the European dental business is estimated at €480m. 

Oaktree established the holding company Hesira in 2013, intending to acquire and develop dental clinic chains across a number of European countries.

Hesira is led by Malcolm Hughes, the former CEO of Oasis Healthcare, which was acquired by Bridgepoint in 2013 and subsequently sold to Bupa in a £835m trade deal in November 2016.

The holding company made its first acquisition in August 2013 with Dental Clinics Nederland, a branded dental clinics business in the Netherlands. The group went on to make numerous add-on acquisitions across the Netherlands.

Switzerland-based Adent Cliniques Dentaires joined the Hesira group in July 2014. In June 2015, it acquired Cliniques Dentaires de Geneve, a group of three clinics in the Geneva city area. One month later, it acquired Swiss Dental Group, a group of five dental clinics established in 2012. It operates under the BudgetDent brand in the cantons of Aargau, Lucerne, Zug and Zurich.

Nordic Capital is currently on the fundraising trail with its Nordic Capital IX fund. US LP Minnesota State Board of Investment had agreed to commit up to $150m to Nordic Capital Fund IX in May 2017, according to unquote" data.

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• Topics
• Buyouts
• UK / Ireland
• Healthcare
• United Kingdom
• Nordic Capital
• Oaktree Capital