EQT Private Equity exits Curaeos to Colosseum Dental Group
EQT Private Equity exits Curaeos, a pan-European dental service organization with activities in the Netherlands, Germany, Italy, Belgium, and Denmark, to Colosseum Dental Group
Under EQT Private Equity’s ownership, Curaeos has made significant investments in integrating its network of 186 dental clinics and improving operational efficiencies, which has supported a successful transformation of the business amid the Covid-19 pandemic
Curaeos will continue its next phase of development together with Colosseum Dental Group, creating the leading European dental platform under the ownership of family-owned Jacobs Holding
EQT is pleased to announce that the EQT VII fund (“EQT Private Equity”) has signed a definitive agreement to exit Curaeos (the “Company”) to Colosseum Dental Group, a Zurich-based global dental service organization owned by family-owned Jacobs Holding AG (“Jacobs Holding”).
Headquartered in Oosterhout, the Netherlands, Curaeos is a platform of 186 dental clinics serving over one million patients across the Netherlands, Germany, Italy, Belgium, and Denmark. Curaeos acts as a multi-functional service organization for its clinics, allowing the dentists to fully focus on providing patients with the best possible care. Curaeos’ Shared Service Center supports and facilitates dentists with HR, finance and administration, quality and care management, procurement, marketing and communication and general management.
Shortly after EQT Private Equity acquired Curaeos in 2017, the Company entered a challenging period caused by internal complexities. Under EQT’s ownership and the Curaeos management team’s leadership, the Company has made significant investments in integrating its network of 186 dental clinics, improving operational efficiencies and enhancing learning, development and culture, which have transformed the business into an efficient and scalable dental service organization.
As Curaeos’ operations were heavily impacted by the Covid-19 pandemic and lockdowns, EQT Private Equity initiated a restructuring process in 2020. EQT and the lenders stood by the Company and worked closely together with the management team to secure a sustainable and long-term capital structure that looks beyond the pandemic. Curaeos will continue its next phase of development together with Colosseum Dental Group, creating the leading European dental platform.
Anders Misund, Partner within EQT Private Equity’s Advisory Team, said, “We are pleased to have found a long-term home for Curaeos with a strategic, family-owned organization. Curaeos’ management has played an instrumental role in the transformation of the business and is well equipped to continue its operational development under its new ownership. We would like to thank CEO Chris Cools, CFO Bart Borms, as well as all of Curaeos’ dentists, management and employees for their commitment and hard work over the past few years”.
Chris Cools, CEO of Curaeos, said, “We would like to thank EQT for supporting us closely and helping us navigate through the uncertainties created by the Covid-19 pandemic. The Curaeos platform is substantially stronger today and we are now ready to continue our positive trajectory as part of the leading European dental service organization together with Jacobs and Colosseum Dental Group.”
The transaction is expected to close during Q3 2021. The parties have agreed not to disclose the financial details of the transaction.
Jefferies acted as exclusive financial advisor to Curaeos and Clifford Chance LLP provided legal counsel.
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
Curaeos is a platform of dental clinics, with activities in the Netherlands, Germany, Italy, Belgium and Denmark. Curaeos is headquartered in the Netherlands and serves more than one million patients through its pan-European network of 186 clinics. Curaeos acts as a multi-functional service organization for these clinics, allowing the dentists to fully focus on providing patients with the best possible care. Curaeos Shared Service Center supports and facilitates dentists with HR, Finance and administration, quality and care management, procurement, marketing and communication and general management.