Lonsdale acquires Todays Dental

The GP said it will support the group to grow from eight to more than 50 dental practices across England and Wales. It will also provide strategic counsel, support investment in the group head office and be active on the company's board. 

The sponsor typically makes investments of between GBP 10-GBP 15m in companies with GBP 4m-GBP 7m of EBITDA. 

The deal was made through Londale's first institutional fund, Lonsdale Capital Partners, which closed in 2015 at GBP 110m. 

Todays Dental CEO Rob Paxman has been responsible for acquisitions at some of the UK's largest dental groups, including an 11-year stint at MyDentist, part of the IDH Group now owned by Palamon; and four years at Dentex, owned by Universal Partners. 

Dentex is currently for sale in a Jefferies-led auction, as reported by Unquote's sister publication Mergermarket. 

Lonsdale says it has already pursued successful buy-and-build strategies across bar chain Simmons Bars, transformation consultancy P2 Consulting and refrigeration renter Cross Rental Services, all based in the UK. 

It sold P2 Consulting to Waterland-backed Valcon for a 2.7x return in December last year, and Cross Rental to Elysian Capital.  

Advisors 

Lonsdale - RSM and Mayfield Practice Sales (financial due diligence); Knights and Burness Paull (legal); L.E.K. Consulting (commercial); BDO LLP (tax); Willis Towers Watson (insurance); Vision to Value (financial advisor). 

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• Topics
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• Lonsdale Capital Partners