Investcorp has completed two acquisitions that will form the basis of a buy-and-build strategy in the German dental market.
The firm has acquired Privatzahnarztklinik Schloss Schellenstein (PSS), a North Rhine-Westphalia-based centre for implantology and dental surgery which employs around 40 people. It has also recently bought Acura Kliniken, a hospital in Albstadt, and now plans to consolidate the fragmented German dental market.
“Having followed the development of the retail healthcare sector for a number of years, we believe now is the right time to invest in this sector in Germany,” said Jose Pfeifer, principal in Investcorp’s European corporate investment team.
“We are excited about the potential to build a sizeable dental business in Germany through a buy-and-build strategy and our acquisitions of PSS and Acura Kliniken are ideal starting points to launch this initiative. We look forward to partnering with further dental practices, both large and small, in the coming months.”
Investcorp is not the only firm with such ambitions. Earlier this year Nordic Capital completed three deals that initiated a pan-European dental consolidation play, while Jacobs Holding bought dentistry businesses from IK Investment Partners, EQT and CapMan last year.
Last month Investcorp promoted Hazem Ben-Gacem, head of its European private equity operations, to the role of co-chief executive officer. He will be replaced by current managing director Daniel Lopez-Cruz.