Oxford Finance, a specialty finance firm focused on healthcare services and life sciences companies worldwide, closed a $115 million senior credit facility to Pearl Street Dental Partners, a dental platform owned by SkyKnight Capital, dentists and management.
Proceeds from the transaction will be used to support the acquisition of the business and provide ongoing working capital and growth capital needs. Oxford is the sole lender and administrative agent in the transaction.
Headquartered in Dallas, Pearl Street is a partnership-oriented dental practice management company that works with dentists to help them achieve their goals, unlock growth and enhance operations, all while sustaining dentist autonomy. The company is focused on preserving the spirit of private practice dentistry, while equipping partner dentists with the technology, resources and peace of mind that come from being part of a larger platform.
“Pearl Street Dental Partners has developed a strong growth platform with a lengthy track record of successful new partner integrations,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “Oxford is excited to support the company’s mission to partner with top quality providers focused on excellent patient care.”
“In addition to ensuring that our immediate needs on the closing date were met, Oxford worked closely with Pearl Street to ensure our business would have the operational flexibility and capacity necessary to support our goals,” David Meece, co-founder and CEO of Pearl Street, said.
“From start to finish, Oxford was constructive in its diligence and structuring process,” Jordan Milich, partner at SkyKnight Capital, said. “Certainty of execution was paramount for this transaction. Oxford helped to ensure a smooth closing and built immediate trust with management.”