Daily News: March 16, 2012

MidCap, Babson Ink Financing for Riverside Acquisition

The Riverside Company has acquired DentalPlans.com Inc., a direct-to-consumer marketing and e-commerce platform for dental savings plans. MidCap Financial and Babson Capital provided financing for the transaction,

Based in Plantation, FL, the company provides online tools that help consumers select the best dental savings plans for them. Its members have access to discounts of 10% to 60% on most dental care procedures at 100,000-plus dentists nationwide. DentalPlans.com serves members in the U.S., UK and Puerto Rico.

“DentalPlans.com is already the dominant player in the online direct-to-consumer dental savings plan market, but we see a lot of room for it to grow,” said Riverside partner Kristin Newhall. “Because of the tremendous value of its service, we think it can add new customers to its existing suite of offerings while exploring further growth areas.”

“We’re excited about the initial investment,” said Riverside Senior Operating partner Mike Michienzi. “But we’re even more excited about investing time and resources to accelerate growth at DentalPlans.com. This company has a lot of untapped growth potential.”

The transaction is Riverside’s sixth acquisition of 2012.

Working with Newhall and Michienzi on the transaction for Riverside were vice president Steve Burns, senior associate Spencer Moore, and associate Maximilian Moehlmann. Partner Robert Landis originated the opportunity for Riverside. Partner Anne Hayes worked on financing the transaction for the firm.

Jones Day advised Riverside. Investment bank Petsky Prunier represented DentalPlans.com in this transaction.

The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million.