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).
Of the 53 deals seen in March, 28 came from technology and business services
Debut managers out to market are unlikely to hold closes in 2020, and very few new teams are likely to launch funds
Deal comes nearly two years after Finnish GP Taaleri Private Equity Funds acquired the company
GP sold a 51% stake in the Munich-listed IT service provider to market peer Audius in 2019