Private equity firm Sentinel Capital Partners announced that its company Altima Dental has merged with dental service organization (DSO) 123Dentist.
The transaction was funded with investments from Heartland Dental, currently the largest DSO in the U.S., global investment firm KKR, and Peloton Capital Management, 123Dentist's private equity sponsor. Terms of the deal were not disclosed, but Sentinel will retain a minority equity stake in the combined company.
The merger creates one of the largest DSOs in Canada. In addition to 123Dentist and Altima Dental, the DSO also includes Lapointe Group. In 2019, Altima merged with Lapointe. Now, the network comprises 350 clinics servicing all of Canada, with a presence in every major metropolitan market.
Currently, Sentinel has investments in other dental entities, including the Dallas-based DSO MB2 Dental and DSOs Castle Dental, Metro Dentalcare, Northeast Dental Management, and mobile dentistry firm ReachOut Healthcare America.