NEW YORK, NY / LONDON, UK – February 8, 2018 – Funds advised by BC Partners (“BC Partners”), a leading international investment firm, today announced the signing of a definitive agreement whereby BC Partners will acquire Zest Dental Solutions (“Zest”) from Avista Capital Partners (“Avista”), a leading private equity firm in the healthcare sector. Financial terms of the transaction were not disclosed.
Founded in 1977 and headquartered in Carlsbad, California, Zest is a leading provider of dental solutions across a continuum of patient care. Zest is widely known as the global leader in reliable, innovative restorative solutions for the treatment of edentulous patients. In recent years, Zest has strengthened its offering by expanding the breadth of its product portfolio, with acquisitions of restorative consumables and small equipment products.
Michael Chang, Senior Partner at BC Partners, said, “Zest is a clear market leader in an attractive segment of the healthcare industry, and is well positioned to continue delivering valuable innovation to the dental community globally. We are excited to partner with Zest’s entrepreneurial management team and continue building on the strong foundation they have established.”
Steve Schiess, CEO of Zest, said, “Our partnership with Avista resulted in significant growth for Zest and allowed us to further innovate and expand our product offerings. Today, Zest is poised to continue its growth trajectory as a global leader and pioneer of full arch treatment solutions and cost-effective, less invasive treatment of natural teeth. We look forward to the next phase of our growth in partnership with BC Partners and remain dedicated to improving the dental health of patients served by our clinician customers.”
Sriram Venkataraman, Partner at Avista, said, “We congratulate and thank the entire Zest management team on a fantastic partnership. We are proud of the growth the company has achieved since our investment in 2013. Zest has significantly enhanced its value proposition in an expanding marketplace, and we wish the company continued success going forward.”
Moelis & Company LLC and Credit Suisse Securities (USA) LLC are acting as financial advisors and Ropes & Gray LLP is acting as legal counsel to Zest. Latham & Watkins is acting as legal counsel to BC Partners.