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).
Merged company will have combined revenues of around €8m in 2020, and employ over 50 staff.
Digitalisation and project life cycle management business intends to expand in DACH and Benelux
Fund invests in pre-series-A and series-A rounds to support the growth of startups operating across a large variety of sectors
In conjunction with the announcement, the firm has hired an investment team from TenX Health