Comvest Partners made an investment in Leixir Dental Group, a technology-enabled provider of outsourced dental solutions serving both independent dentists and dental service organizations (DSOs) as well as technology and distribution companies.
Leixir Dental Group operates five dental laboratories across the U.S. in addition to a digital design and manufacturing facility in Gurugram, India. Harmeet Bindra, founder of Leixir Dental Group, will continue in his role as CEO and executive chairman of the company.
“Today’s dental market demands high-quality production, fast turnaround times, digital design capabilities and competitive pricing. Leixir is uniquely positioned to address all of these needs,” Lee Bryan, senior partner at Comvest Partners, said. “Harmeet has built a truly impressive business, and we are very excited to partner with him and the Leixir management team.”
“This transaction represents an important milestone for Leixir. I am proud of the growth our team has achieved and believe Comvest is the ideal partner to support our future growth initiatives,” Bindra said. “Comvest brings significant resources, a collaborative approach with management as well as extensive experience creating strategic and operational value for their portfolio companies.”
“Leixir is pushing the boundaries and redefining the role of today’s dental lab. The company’s digital capabilities and proprietary end-to-end case management platform, MyLabConnect, are true differentiators which should enable Leixir to continue to capture market share,” Marshall Griffin, principal at Comvest Partners, said. “We look forward to working with Harmeet and the team at Leixir as the company accelerates its growth trajectory as an industry-leading dental lab solutions platform.”
McDermott Will & Emery served as legal advisor to Comvest Partners. Cain Brothers, a division of KeyBanc Capital Markets, acted as financial advisor and Orrick, Herrington & Sutcliffe acted as legal advisor to Leixir Dental Group in connection with the transaction. Financing for the transaction was provided by NXT Capital.