Carlyle seeks to sell float UK's Integrated Dental Holdings in $1.68 bn deal
13 May 2014
US private equity firm Carlyle Group plans to either sell or seek an initial public offering for Integrated Dental Holdings (IDH), Britain's largest privately-owned dental chain, Sky News yesterday reported.
IDH, which has 570 dental clinics in UK, will be valued at £1 billion ($1.68 billion), the report said.
Carlyle had acquired IDH in 2011 for about £450 million from the private equity arm of Bank of America Merrill Lynch and merged it with Associated Dental Practices owned by Palamon Capital.
IDH is Europe's largest dental corporate company serving over 10 million patients.
It is primarily focused on Britain's National Health Service dentistry but also has a Private and Specialist division providing a range of services including orthodontics, dental implants, dentures and cosmetic treatments including safe tooth whitening and smile makeovers.
The Manchester-based company, which has a five per cent market share, had 2013 revenues of £349 million.