Bridgepoint has invested in dental services provider Oris Dental.
The firm drew capital from its Bridgepoint Development Capital III vehicle, which closed on £600m and was 29% deployed as of June 2018. Bridgepoint invests €20-100m in businesses with an enterprise value between €30m and €200m.
Indicative bids for the company were due on 1 October 2019, according to Unquote sister publication Mergermarket. Oris was marketed based on a NOK 100m run-rate EBITDA; for 2017 and 2018, the company reported adjusted EBITDA of NOK 21m and NOK 37m respectively.
The investment will go towards organic growth and a buy-and-build strategy.
Oslo-based Serendipity Partners invested in Oris in May 2018.
Based in Trondheim and founded in 2016, Oris operates 25 dental clinics and four dental laboratories. It employs more than 200 employees, according to LinkedIn.
Bridgepoint – Johan Dahlfors (partner).
Oris Dental – Lars Melkvik (CEO).
Equity – Schjødt (legal); Danske Bank (corporate finance); EY (financial due diligence, tax); Roland Berger (commercial due diligence); Marsh (insurance due diligence).
Vendor – Wiersholm (legal); DNB (corporate finance); PwC (financial due diligence, tax); LEK (commercial due diligence).
Austria-based electrical engineering company had filed for insolvency in April 2020
VC house expects to hold a €35-45m first close by the end of July and a final close in around one year
LPs in Exponent III include Aberdeen Standard Investments, Central Pension Fund and CNP Assurances
Company has generated €12m in revenues and has a 25% EBITDA margin