Daily News: February 10, 2012

JLL Partners Completes Acquisition of American Dental Partners


JLL Partners, Inc. and American Dental Partners, Inc. (ADPI) announced that JLL, through its affiliated entities, completed its acquisition of the company. As previously announced, American Dental launched the syndication of $241 million of senior secured facilities, consisting of a $36 million revolving facility and a $205 million term loan. JLL has secured committed debt financing from KeyBank, CIT Healthcare and NXT Capital to finance the acquisition.

“I am very pleased to have a partner in JLL that is committed to our core values, strategic goals and objectives, dedication to quality care and long-term outlook,” said Gregory A. Serrao, president and chief executive officer of the Company.

“American Dental Partners is well-positioned as a leading provider of dental practice management services with a national infrastructure and an excellent reputation for providing services to its affiliated practices,” said Michel Lagarde, managing director of JLL. “We look forward to working with ADPI’s management team to pursue our shared vision and enhance the company’s growth.”

The company is now privately held and was no longer be listed on NASDAQ after the closing of the market on February 9, 2012. As a result of the acquisition, the holders of ADPI’s outstanding common shares will receive $19.00 per share in cash. The total enterprise value for the company, including outstanding indebtedness, as of the closing date is $392 million.

American Dental Partners is headquartered in Wakefield, MA and is a business partner to dental group practices.

JLL Partners is a New York-based private equity investment firm that invests in a variety of industries, with special focus on healthcare services, financial services and business services.

Previously on abfjournal.com:

KeyBank, Others Syndicate Credit Facilities for American Dental, Thursday, January 19, 2012