Sun European acquires DD Group in carve out from IDH

Palamon launched the sale of DD earlier this year in a DC Advisory sale that marketed the company off GBP 15m EBITDA, as reported. 

DD had GBP 210m revenue in the year to March 2022, growth of 16%, Sun European said in a statement. In the year prior, DD accounted for 24% of IDH Group's revenue and GBP 6.7m of its EBITDA, as reported.

Sun European said its investment strategy focuses on defensible businesses in growing markets with tangible performance improvement opportunities. 

The GP said it will work with management to explore a wider European M&A strategy and maximise the business potential in the aesthetics arm of the business. 

Palamon said that the carve-out concludes phase one of its investment plan to return IDH to a pure-play dental services company, following its GBP 700m buyout in August 2021. 

The vendor said that the proceeds from the divestment will significantly deleverage the business and provide cash to support deeper investment into its existing network of clinics and M&A. 

DD supplies 12,000 dental practices, 6,000 medical beauty clinics and 18,000 specialist beauty salons across the UK and Ireland. It provides customers access to 30,000+ dental and medical aesthetic products, prescription medicines, equipment and technology. 

The transaction is expected to close in June 2022.  

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• Topics
• Healthcare
• Buyouts
• Exits
• UK / Ireland
• GPs
• Sun European Partners
• Palamon Capital Partners
• DC Advisory Partners