B. Riley Securities served as an advisor in connection with a refinancing and junior capital raise for Oak Dental Partners.

Atlanta-based private equity firm Fortem Holdings engaged B. Riley to refinance Oak Dental’s existing debt facility and provide junior capital to fuel the company’s M&A growth strategy. Comvest Partners was selected as the senior lender, providing a $105 million term loan, a $43 million delayed draw term loan, a $5 million revolver and $2 million of minority equity. Catalur Capital was selected as the primary equity partner, contributing $35 million of structured preferred equity.

Oak Dental is a dental service organization based in Georgia with 55 partner locations across nine states. The company acquires, manages and develops pediatric and family dental practices and adds complementary specialty services, such as orthodontics and oral surgery.

The B. Riley team ran a process to identify a new credit partner with the ability to support Oak Dental’s near and long-term acquisition strategy, as well as an equity partner to help further fuel the company’s growth while helping maintain a comfortable level of leverage on the business. B. Riley navigated an uncertain credit market, bringing multiple interested investors to the table by highlighting Oak Dental’s track record of buying and integrating affiliate dental practices. Ultimately, the B. Riley team found debt and equity partners while guiding the client through dual-track diligence streams and negotiating a transaction structure through an expedited closing process.

Tom Mills (senior managing director) and Holly Smyth (managing director) led B. Riley’s deal team, which included Conor Williams (vice president), Michael Stotz (associate) and Peter Mathewson (investment banking analyst).