(New York, 18 February 2021) CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”), and Blue Sea Capital LLC (“Blue Sea”) announced today the sale of its investment in DDS Lab, LLC (“DDS Lab” or the “Company”) to RoundTable Healthcare Partners. The transaction represents the culmination of a successful long-term partnership with DDS Lab’s management team, led by Mr. Bart DOEDENS, Chief Executive Officer, whose team will continue to lead the company going forward. Financial terms of the transaction were not disclosed.
Based in Tampa, Florida, DDS Lab is a leading high-growth global dental laboratory providing a comprehensive line of fixed crown and bridge, removable, implant and orthodontic products to over eleven thousand dentists across the United States.
“We are proud to have supported DDS Lab’s management team over the last few years. Through investments in the Company’s organization and digital capabilities, the team did a phenomenal job driving robust organic growth and solidifying its position in the market,” said Hans ALLEGAERT, Managing Director at CITIC Capital. “We have thoroughly enjoyed working alongside the DDS Lab team and wish them all the best going forward.”
J.R. DAVIS, Managing Partner at Blue Sea, added, “DDS Lab’s consistent long-term growth and market share gains reflect a best-in-class offering to its customers combining top-quality craftmanship, industry-leading manufacturing technologies, and dedicated customer service. We are pleased to have supported further advancement of this offering during our partnership, including approximately doubling the number of DDS Lab team members to 1,200 today.”
DDS Lab CEO Mr. DOEDENS commented, “On behalf of the management team at DDS Lab, we’d like to thank CITIC Capital and Blue Sea Capital. They have been great partners and supportive of the investments made to transform and grow the business.”
Moelis & Company LLC and Houlihan Lokey Capital Inc. served as financial advisers and Paul Hastings LLP served as legal counsel for the transaction.
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About DDS Lab
Established in 2005, DDS Lab is a National Board Certified full-service dental laboratory that sells custom dental prosthetic appliances to dental service organizations, mid-size group practices, and independent dentists across the United States. The company is headquartered in Tampa, Florida. For more information on DDS Lab’s products and services, please call +1 877 337 7800 or visit www.ddslab.com.
About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD35 billion of capital across 90 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focuses on control buyout opportunities globally and has completed over 79 investments since inception across China, Japan, U.S., Europe, etc. CITIC Capital Partners currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.
About Blue Sea Capital
Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle market companies valued up to $250 million. The firm has over $750 million in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation. For more information, please visit www.blueseacapital.com
For media enquiries, please contact:
Cindy Tam
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene Gao
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
J.R. DAVIS
Managing Partner
Blue Sea Capital
Tel: +1 561 573 8273
jdavis@blueseacapital.com