Daily News: October 12, 2012

Golub Provides Facility for Northwestern Management Recap


Golub Capital announced that as sole bookrunner and administrative agent it provided a senior credit facility and co-investment equity to support the recapitalization of Northwestern Management Services, LLC (NMS), by Linden Capital Partners.

The company was purchased from The Beekman Group. The Beekman Group partnered with NMS’ CEO and acquired a majority interest in NMS in December 2007. During Beekman’s investment period, the NMS platform grew from 10 to 21 fully-operational locations, more than doubling revenues and tripling profitability, while reinvesting substantially in the company’s infrastructure and adding key senior executives to the management team.

Harris Williams & Co. acted as the exclusive financial advisor to Gentle Dental. The transaction closed on October 5, 2012 and was led by James Clark, Geoff Smith and David Allebach.

Founded in 2002 and based in Boca Raton, FL, NMS is a dental practice management company that provides comprehensive management and administrative services for Gentle Dental Group, a branded, retail-based dental services organization with 21 offices in southeast Florida. Gentle Dental Group provides high quality, comprehensive general, specialty, and cosmetic dental services to over 175,000 patients.

“We are excited to partner with Linden Capital Partners in a space that they know really well,” said Golub Capital managing director Stefano Robertson, who leads the firm’s healthcare efforts. “NMS and the Gentle Dental Group have exhibited strong organic growth and developed leading positions in their local markets. With support from Linden, the company is well-positioned to expand its reach and take advantage of its strong reputation.”

“Golub Capital proved to be very diligent and supportive of our investment thesis throughout the process,” said Tony Davis, a partner at Linden Capital Partners. “Their healthcare experience and specific understanding of the dental practice management space made them an ideal partner not only to help us consummate the acquisition, but also to support our long-term growth initiatives. We are very happy to have partnered with them and look forward to doing so again.”

With over $6 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market.

Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries.