Clairvest Invests in Second Medical Practice Management Platform Through Partnership with Bluetree Dental
March 01 2023 - 5:00PM
Clairvest Group Inc. (TSX: CVG) (“CVG”) today announced that it,
together with Clairvest Equity Partners VI (“CEP VI”, collectively
“Clairvest”) has made a US$32 million equity investment in Bluetree
Dental (“Bluetree” or the “Company”) with CVG’s portion of the
investment equaling US$9 million.
Bluetree Dental is a multi-specialty, pediatric
and orthodontics-focused dental service organization with 45+
offices centered in the Mountain West region of the United States.
Bluetree was founded in 2012 by Steve DeLong, Brent Corbridge and
Lance Bruntz, all of whom have rolled significant equity alongside
Clairvest in the transaction. Management together will maintain
control post-closing. The rationale for the investment is to
provide the Bluetree team with the capital, expertise and
experience to accelerate the growth of Bluetree.
This represents Clairvest’s second partnership
in the dental industry after conducting over five years of domain
research and relationship building in this space.
“We have known the Bluetree management team for
over three years and we are excited to partner with these
owner-operators who share an aligned vision. The Company has shown
impressive growth over the past few years and the team has a strong
track record of building a scalable platform,” said Robbie
Isenberg, Managing Director of Clairvest.
“We look forward to partnering with Clairvest
and embarking on this journey together to build a leading dental
service organization. Beyond capital, Clairvest brings a wealth of
relationships and experience in the dental industry that will
assist Bluetree in this next chapter of growth,” said Steve DeLong,
Co-CEO and Co-Founder of Bluetree Dental.
The Bluetree Dental investment is Clairvest’s
61st platform investment and 10th investment in the Clairvest / CEP
VI co-investment pool which is capitalized at US$850 million.
About ClairvestClairvest’s
mission is to partner with entrepreneurs to help them build
strategically significant businesses. Founded in 1987 by a group of
successful Canadian entrepreneurs, Clairvest is a top performing
private equity management firm with over CAD $3.3 billion of
capital under management. Clairvest invests its own capital and
that of third parties through the Clairvest Equity Partners limited
partnerships in owner-led businesses. Under the current management
team, Clairvest has initiated investments in 61 different platform
companies and generated top quartile performance over an extended
period.
Contact InformationStephanie
LoManager, Investor Relations and MarketingClairvest Group Inc.Tel:
(416) 925-9270stephaniel@clairvest.com
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