Dental Services Group ("DSG"), a leading full-service dental laboratory network, announced today that it has received a majority investment from Cressey & Company LP ("Cressey & Company"), a healthcare-focused private investment firm.
DSG CEO Buddy Pickle and his management team will maintain ownership positions in the company and remain in their current positions. Terms of the transaction were not disclosed.
"All of DSG looks forward enthusiastically to partnering with Cressey & Co as we embark on the next stage of our company's journey," said Mr. Pickle. "Cressey brings to DSG their vast experience creating strategic and operational value in their wide array of portfolio companies. We are very pleased to be presented with this exciting situation to work with the experienced and successful Cressey principals to bring their acumen to the dental laboratory industry as we continue to build DSG into the world's largest and leading dental laboratory network company."
Founded in 1989, DSG is a leading full-service network of over 40 dental laboratories in the United States, with offshore partnerships in Asia that offers customers a variety of options in fixed, removable, implant, orthodontics and sleep dentistry products and services. DSG provides high-quality products and industry leading technology to more than 9,000 customers, including dental practice management organizations, independent dentists, universities and hospitals.
"DSG is at the forefront of a dynamic market that is increasingly focused on high quality, cost effective products delivered in a timely fashion," said Bryan Cressey, Partner at Cressey & Company. "Buddy and his team have built DSG into a provider of choice and laid a strong foundation for continued growth. We share the company's vision for the future and will ensure it has the resources and skills it needs to fulfill its promise to customers."
"Our investment in DSG is consistent with our strategy of partnering with exceptional management teams to grow their companies over the long term," said Merrick Axel, Partner at Cressey & Company. "Having repositioned the company over the past five years, Buddy sees multiple growth opportunities for DSG, and we have already begun collaborating with Buddy and his team to capitalize on them."
Cressey & Company was advised on this transaction by Ropes & Gray LLP (legal advisor) and PricewaterhouseCoopers (accounting and tax advisor)