SYNOVA ACQUIRES THE DENTAL BUYING GROUP
Synova Capital (“Synova”), a UK private equity firm focused on the lower mid-market, is pleased to announce the acquisition of The Dental Buying Group (“DBG” or the “Business”), the UK’s leading provider of dental services and products.
The DBG operates a membership model providing services to over 4500 dental practices across the UK. Members pay an annual fee to gain access to DBG’s comprehensive portfolio of products and services, including dental engineering and radiography services, health and safety provision and training and compliance services. DBG is the only group in the UK that provides such a wide range of services to the dental industry, the majority of which are driven by legislative requirements.
As part of the transaction, Synova has partnered with DBG’s CEO, John Rochford.
John Rochford, CEO of DBG commented: “DBG provides through our highly skilled team, a unique set of services and products to over a third of dental practices across the UK. I believe that the legislative changes targeted at the dental sector combined with a number of new products and services that we will bring to market will generate significant growth over the next few years. Partnering with Synova during this period will provide us with the financial resources and strategic direction to realise that growth potential.”
Philip Shapiro, a Managing Partner of Synova added: “We are delighted to be partnering with a proven, successful and ambitious management team in a market that contains many exciting growth prospects. We believe that the Business should benefit significantly from both the increasing regulation of the dental sector as well as our investment in additional trainers and practice audit services.”