BC makes US deal with Zest buyout from Avista

Kenny Wastell
09 February 2018

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BC Partners has agreed to acquire US dentistry equipment provider Zest Dental Solutions from Avista Capital Partners.

[Editor's note: BC Partners owns a majority stake in Acuris, the parent company of Unquote].

The acquirer is currently investing from its 10th fund, which closed on its €7bn target in January 2018 after two years on the road.

Financial details of the transaction remain undisclosed, though BC European Capital X has an investment range of €200-800m and around 30% of the investments from the fund are expected to be made in the US.

Zest is headquartered in Carlsbad, California, and was founded in 1977. It provides products used in the treatment of fully or partially edentulous patients, including anchors and perioscopy tools.

The deal brings to an end a four-and-a-half-year holding period for Avista, with the vendor having acquired the business from The Jordan Company in July 2013. Under Avista's tenure, Zest has undertaken an acquisitive growth strategy, bolting on companies in the restorative consumables and small equipment segments.

Latham & Watkins acted as legal counsel to BC on the transaction, while Ropes & Gray provided legal advice to Zest.

The latest deal comes nine months after the GP acquired Italian dentistry business DentalPro from Summit Partners with capital drawn from the same vehicle.