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LAKEWOOD RANCH — Quad-C Management, a private equity firm that owns Dental Care Alliance, a dental practice management firm that has nearly doubled revenues since 2011, has sold the business to another investment company.
Charlottesville, Va.-based Quad-C sold Dental Care Alliance, with a headquarters in Lakewood Ranch, to New York-based private equity firm Harvest Partners, according to the release. Terms of the deal weren't disclosed.
Quad-C acquired Dental Care in 2012. Funds from Quad-C helped Dental Care affiliate with more than 20 dental practices in the last three years. The company, with more than 100 employees who work out of its corporate offices, had $254 million in revenues in 2014, up 88% over $135 million in revenues in 2011.
“We have appreciated Quad-C's expertise in health care services and their collaborative approach to accelerating DCA's growth over the past three years,” Dental Care CEO Mitch Olan says in the statement. “As a result of their support of significant investments in new affiliations, personnel and infrastructure, we are not only a much larger company today, but more importantly better positioned to serve our growing base of patients and affiliated dentists.”
Dental Care Alliance is one of the largest dental support organizations in the country. It was founded in 1991 and supports a network of 157 practices across eight states in the Midwest, Mid-Atlantic and Southeast U.S. It grew quickly during the 1990s, went public and then went private again in 2001.
Quad-C, founded in 1989, has invested more than $2 billion of equity across at least 50 companies. Harvest Partners was founded in 1981 and focuses on companies in the health care services, business services and manufacturing and distribution sectors.
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