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Golub, Ares Arrange Senior Debt in Harvest Partners’ Acquisition

July 06, 2015, 07:14 AM
Filed Under: Healthcare

Harvest Partners and the management team of DCA Investment Holding LLC have completed the acquisition of the company from Quad-C Management, Inc., a Charlottesville, VA-based private equity firm. Terms of the transaction were not disclosed.

Senior debt was arranged by Golub Capital and Ares Capital Corporation. Mezzanine debt and preferred equity financing was provided by Crescent Capital. Jefferies LLC advised Harvest. Houlihan Lokey advised the company. Ira Kleinman, Jay Wilkins and Paige Daly will be joining the Board of Directors. Harvest Partners’ Michael Greenman and Matt LoSardo also worked on the transaction.

DCA is one of the largest multi-branded dental support organizations in the U.S., with 157 affiliated dental offices across eight states supporting over 382 dentists. DCA provides a broad spectrum of back office business support to general and specialty dental offices treating patients of all ages, with various dental health needs and socioeconomic statuses. The management team of DCA, led by CEO Mitch Olan and CFO David Nichols, will continue to lead the Company.

DCA is one of the largest multi-branded dental support organizations in the U.S. The company, founded in 1991 and headquartered in Sarasota, FL, supports a network of 157 practices across eight states in the Midwest, Mid-Atlantic and Southeast U.S. DCA affiliated practices provide a full suite of dental services, including general dentistry, hygiene, pediatric dentistry, orthodontics, endodontics, periodontics and oral surgery.

Founded in 1981, Harvest Partners, LP  is a leading New York-based private equity investment firm pursuing management buyouts and recapitalizations of middle-market companies in North America. Harvest focuses on acquiring profitable companies in the healthcare services, business services and consumer, industrial and energy services, and manufacturing and distribution sectors.

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