FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Prospect Capital Makes $127MM Secured Debt Investment in InterDent

December 01, 2014, 07:23 AM
Filed Under: Healthcare

Prospect Capital Corporation announced it has expanded its existing term loan credit facilities to InterDent, Inc., an H.I.G. Capital, LLC portfolio company, by $127 million as part of an add-on acquisition growth and recapitalization strategy. The incremental facility is comprised of a $120 million increase in the existing first lien senior secured term loan as well as a $7 million delayed draw term loan facility, resulting in a total Prospect facility size of $260 million.

Based in Inglewood, CA, InterDent is one of the leading providers of dental practice support services to multi-specialty group dental offices in the United States. InterDent provides support services to over 170 affiliated dental offices with more than 600 dentists in Arizona, California, Hawaii, Kansas, Nevada, Oklahoma, Oregon, and Washington. InterDent’s network of affiliated dental groups provides comprehensive, convenient, and high quality general dentistry in addition to dental specialty services that include orthodontics, periodontics, endodontics, pedodontics, prosthodontics, and oral surgery.

“Prospect’s ability to quickly upsize and hold the entire one-stop facility, coupled with its ability to facilitate InterDent’s acquisition strategy, allows the company to stay focused on executing a multi-pronged growth strategy and expanding its leading position in the marketplace,” said Chris Laitala, a Managing Director of H.I.G.

“We are pleased to provide incremental capital supporting InterDent, a company led by a best-in-class management team and a dedicated sponsor in H.I.G.,” said Jason Wilson, a Managing Director of Prospect Capital Management. “Prospect’s one-stop financing solutions offer efficient alternatives to the syndicated debt market.”

Currently with over $7 billion of capital under management, Prospect has closed approximately $3 billion of new originations so far in calendar year 2014.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.