Ares Management & Leonard Green Increase Ownership in Aspen Dental Management, Inc.
June 13 2017 - 6:30AM
Business Wire
Ares Management, L.P. (NYSE:ARES) and Leonard Green &
Partners, L.P. today announced that private equity funds managed by
each firm have entered into a definitive agreement to increase
their equity ownership in Aspen Dental Management Inc. (ADMI). The
transaction is in partnership with ADMI’s leadership team and funds
affiliated with American Securities, LLC. Terms of the transaction
were not disclosed. The transaction is expected to close by the end
of the second quarter, subject to customary closing conditions.
A leading dental support organization, ADMI provides
non-clinical business support services to Aspen Dental-branded
practices, a model that leaves dentists free to do what they do
best—focus on patient care. With more than 600 locations in 36
states, Aspen Dental is the largest and fastest-growing network of
branded dental care practices in the U.S., with a new office
opening every five days.
“We’re proud of the work we do every day to support more than
8,000 dentists and team members at Aspen Dental practices across
the country as they make dentistry easier for their patients,” said
Bob Fontana, Chairman and Chief Executive Officer of ADMI. “We are
excited about continuing our partnership with Ares and Leonard
Green, firms that have been long-term investors in the company, and
the value they will bring as we help dentists build successful
practices. We are also grateful for our partnership with American
Securities and their continued commitment to our business."
About Aspen Dental Management Inc.
With an innovative model that takes non-clinical business and
administrative services out of the dental office so that dentists
are free to focus on patient care, the team at ADMI is driven by
one overarching purpose: To care for the people who care for the
patients. ADMI makes it easier for dentists to have the careers
they’ve always dreamed of, delivering care to their patients with
the support of a team of experienced business professionals who are
committed to making their practices a success. Support provided by
ADMI includes services and recommendations related to finding the
right locations, leasing, acquiring equipment, accounting and
marketing.
About Aspen Dental Offices
Aspen Dental-branded practices are committed to breaking down
the barriers to better dental care, better smiles and better lives
by making dentistry easier for patients. With more than 600 offices
in 36 states, Aspen Dental practices provide a wide range of
general dentistry and denture-related services and offer
patient-friendly programs and services that help thousands of
people every day get the dental care they need, including
convenient locations, onsite labs, extended hours, and acceptance
of most dental insurance. Together, Aspen Dental practices cared
for more than 1.5 million patients in 2016. To learn more about how
Aspen Dental practices make it simply easier for patients to get
the care they need, visit AspenDental.com.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global
alternative asset manager with approximately $100 billion of assets
under management as of March 31, 2017, and more than 15 offices in
the United States, Europe and Asia. Since its inception in 1997,
Ares has adhered to a disciplined investment philosophy that
focuses on delivering strong risk-adjusted investment returns
throughout market cycles. Ares believes each of its three distinct
but complementary investment groups in Credit, Private Equity and
Real Estate is a market leader based on assets under management and
investment performance. Ares was built upon the fundamental
principle that each group benefits from being part of the greater
whole. For more information, visit www.aresmgmt.com.
About Leonard Green & Partners, L.P.
Leonard Green & Partners, L.P. (“LGP”) is a leading private
equity investment firm founded in 1989 and based in Los Angeles.
The firm partners with experienced management teams and often with
founders to invest in market-leading companies. Since inception,
LGP has invested in over 80 companies in the form of traditional
buyouts, going-private transactions, recapitalizations, growth
equity, and selective public equity and debt positions. The firm
primarily focuses on companies providing services, including
consumer, business, and healthcare services, as well as retail. For
more information, please visit www.leonardgreen.com.
About American Securities LLC
Based in New York with an office in Shanghai, American
Securities is a leading U.S. private equity firm that invests in
market-leading North American companies with annual revenues
generally ranging from $200 million to $2 billion and/or $50
million to $300 million of EBITDA. American Securities and its
affiliates have approximately $15 billion under management.
www.american-securities.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170613005513/en/
For Ares Management:Media:Mendel CommunicationsBill Mendel,
212-397-1030bill@mendelcommunications.comorInvestors:Carl Drake,
800-340-6497cdrake@aresmgmt.comorPriscila Roney,
212-808-1185proney@aresmgmt.comorFor Leonard Green:Erika Spitzer,
310-954-0444investorrelations@leonardgreen.comorFor American
Securities:Amy S. Harsch,
212-476-8071aharsch@american-securities.com
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