MARIETTA, Ga.–(Enterprise WIRE)–Oct 6, 2020–
LT Smile Company, together with sure of its subsidiaries (the “Company”), today announced that significantly all of its property and operations have been obtained underneath portion 363 of the U.S. Personal bankruptcy Code by particular credit score investment money managed by and affiliated with New Mountain Capital, LLC (“New Mountain”). The sale transaction was previously permitted by the U.S. Individual bankruptcy Courtroom for the Southern District of Texas.
The sale was supported by the Company’s latest DIP lenders, who offered incremental financing to bolster the Firm during the transition and present more progress capital. The customer, New Benevis Holdco, Inc. (“Benevis”) will continue to offer its field leading, non-medical business enterprise help services to dental techniques throughout the place.
“The acquisition by New Mountain’s credit history money is a significant milestone,” said Scott Hornbuckle, Chief Fiscal Officer. “New Mountain is a foremost health care investor with intensive practical experience creating firms, which will enable us to renovate Benevis into a much better enterprise. We now have an enhanced money situation as we go on on our mission to enable dentists supply the best-high quality products and services and care to millions of sufferers just about every 12 months.”
“We want to thank our staff associates and dental companions for their unwavering motivation to providing pro affected person care and our business enterprise affiliates and lenders for their business confidence in our organization throughout this course of action,” ongoing Mr. Hornbuckle.
Dr. Dale Mayfield, Chief Medical Officer of Benevis, added, “Benevis proceeds to concentrate on the well being and safety of its crew members, dentists and people with enhanced security protocols and improved orthodontic teledentistry session choices. We have emerged from this system stronger than ever and carry on to situation Benevis for lengthy-time period good results.”
The Organization is represented by Jackson Walker, and Conway Mackenzie and Lincoln Intercontinental LLC are serving as economical advisors. New Mountain was encouraged by Proskauer Rose LLP.
Benevis is a extensive dental follow help services firm focused on enhancing entry to dentistry by delivering the optimum high quality non-scientific apply guidance providers to some of the nation’s primary dental techniques.
Benevis affiliates with prime dentists all through the country by supplying assist solutions that help dentists much better take care of and improve their tactics and make it possible for dentists to target on providing high-good quality treatment to their patients.
About New Mountain Capital
New Mountain Money manages private fairness, community fairness, credit history and net lease money with combination assets underneath management totaling more than $25 billion. New Mountain has elevated above $30 billion of fully commited money throughout private equity, credit history, web lease and community equity investment procedures. For extra facts, remember to stop by www.newmountaincapital.com.
Key phrase: UNITED STATES NORTH The us Georgia
Sector Keyword: Specialist Companies Wellbeing DENTAL FINANCE
Copyright Company Wire 2020.
PUB: 10/06/2020 05:21 PM/DISC: 10/06/2020 05:21 PM
Copyright Small business Wire 2020.