LONDON, April 18, 2013 /PRNewswire/ --
Global alternative asset manager The Carlyle Group (NASDAQ: CG)
and Palamon Capital Partners today announced the acquisition of DBG
(UK) Limited ("dbg") from Synova Capital. The terms of the
transaction were not disclosed.
Operating for over 20 years, dbg is a specialist healthcare
support services provider of training, compliance support,
engineering services, materials and equipment. Using a
membership-based model, dbg works alongside over 8,000 dental, GP
and veterinary practices throughout the UK, and is headquartered in
Winsford, Cheshire.
Eric Kump, Managing Director at
Carlyle said "dbg is a well-established business
delivering clear benefits to its members,
customers and suppliers. Carlyle and Palamon have a
strong track record in this sector, having acquired
Integrated Dental Holdings ("IDH") in
2011. While the two businesses will be part of the same
investment vehicle, dbg will remain independent and will benefit
from the expertise of the investors."
Jonathan Heathcote, Partner at
Palamon, added "The existing management team has done a
great job of delivering strong business performance and we look
forward to building on this in the future
as we explore the further growth opportunities in this
sector."
Speaking on the transaction, Managing Director of dbg, Kanesh
Khilosia, commented "We are
delighted to be partnering with Carlyle and
Palamon. They strongly support our
strategy to continue to grow
and diversify dbg's services and support our members
whose interests remain first and foremost. Carlyle and
Palamon bring a wealth of sector experience, which
will build upon that of the existing management. The prospect of
greater co-operation with IDH, which operates the largest
healthcare practise network in the UK, will
significantly add to our
ability to provide a superior, cost
effective service to our
members."
Philip Shapiro, Managing Partner
at Synova commented "We are very pleased with the
completion of our successful investment in dbg. Since we acquired
dbg in 2010, the membership base has more than doubled and profits
have trebled. We thank the dbg management team and staff
for their valuable contribution and hard work. Carlyle and
Palamon have a clear vision and
ability to continue this
growth."
Notes to editors
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $170 billion of assets
under management across 113 funds and 67 fund of fund vehicles as
of December 31, 2012. Carlyle's
purpose is to invest wisely and create value on behalf of its
investors, many of whom are public pension funds. Carlyle invests
across four segments - Corporate Private Equity, Real Assets,
Global Market Strategies and Fund of Funds Solutions - in
Africa, Asia, Australia, Europe, the Middle
East, North America and
South America. Carlyle has
expertise in various industries, including: aerospace, defense
& government services, consumer & retail, energy, financial
services, healthcare, industrial, technology & business
services, telecommunications & media and transportation. The
Carlyle Group employs 1,400 people in 33 offices across six
continents.
Web: http://www.carlyle.com
Videos: http://www.youtube.com/onecarlyle
Tweets: http://www.twitter.com/onecarlyle
Podcasts:
http://www.carlyle.com/about-carlyle/market-commentary
About Palamon Capital Partners
Palamon Capital Partners, LP is an independent private equity
Partnership founded in 1999, which is focused on providing equity
for European growth services companies. Palamon, as a
pan-European investor, originates, executes and manages investments
in the UK, Italy, Spain, Denmark, Belgium, Sweden, France, and Germany. The Firm targets investments in
companies where it can achieve double digit growth and where the
Partnership's experienced principals can provide strategic
direction and support to help build equity value. The Firm
manages Palamon European Equity, L.P. and Palamon European Equity
II, L.P., capitalised at €1.1 billion dedicated to growth
investment opportunities in Europe's lower mid-market.
For more information on Palamon refer to
http://www.palamon.com
About Synova Capital
Synova invests in smaller UK growth opportunities with a
particular focus on companies valued at between £5m and £30m. Key
verticals include Business Services, Software & IT Services,
Consumer & Leisure and Healthcare & Education.
For more information on Synova Capital refer to
http://www.synova-capital.com