Dental News - DenMat changes ownership, management through acquisition

Dental Tribune International

Thu. 1 December 2011

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SANTA MARIA/LOS ANGELES, Calif., & NEW YORK CITY, N.Y. USA: It has been reported that Mill Street Partners, a Los Angeles-based dental consultant, has closed its first major business transaction with selling DenMat Holdings to private enquity firm Centre Partner in New York. The change of ownership took place in mid-November and also saw a new management put in charge of the dental restoratives specialist.

Financial details of the deal were not disclosed. According to figures published by the magazine Pacific Coast Business Times, DenMat was generating over $110 million revenue in 2008. Prior to the acquisition, the maker of Lumineers, a brand of very thin veneers for smile enhancement, was owned by Credit Suisse affiliate DLJMB, which took full control of the holding in 2007.

Mill Street Partners, which will provide all members of the new executive team, announced that it will focus on expanding the company’s current portfolio of aesthetic and restorative solutions as well as to expand its worldwide distribution network.

The company was set up by former dental industry executives Steve Semmelmayer, Robert Cartega and Todd Tiberi in May 2011.

Based in Santa Maria, DenMat Holdings currently employs more than 400 people. It was founded in in 1974 by dentist Dr Robert Ibsen, who resigned in 2008.

CORRECTION: In an earlier version of this article, DT ONLINE incorrectly stated that Dr Robert Ibsen is still associated with Denmat Holdings. In fact, Dr Ibsen is not associated with Denmat Holdings.

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