With the Financial Advice of BBVA: Dentix Reaches Agreement with KKR to Boost Its International Expansion with €200m of Credit Financing
December 15, 2016
-
As a result of this agreement, Dentix will further expand its
presence in
Europe andLatin America , and open new markets inAsia Pacific - This transaction is direct lending financing, which does not entail the entry of KKR into the equity of Dentix
-
This is KKR’s thirteenth investment in
Spain in the last 6 years, and its second direct lending investment following the financing to SARquavitae in 2015 -
BBVA has acted as financial advisor in this transaction. PwC
Financial, Tax & Legal Services, Ropes & Gray and
Linklaters have advised on legal and tax matters, and Due Diligence in this investment
Dentix currently operates 251 clinics in four countries (
Dentix entrusted BBVA, as financial advisor, with the search of the best option to finance its strong international expansion. BBVA is also one of the reference banks of the company in consumer finance.
After assessing different alternatives, an agreement has been reached with KKR, who proposed an attractive bespoke unitranche solution that met the company’s needs for flexibility.
This investment is part of a strategic financing operation that will
help to boost growth in the company’s existing markets, in the markets
where it has announced expansion plans for 2017 (
Different model from other dental chains
Dentix is a wholly Spanish and family owned dental company which adopts a different business model from other Spanish chains and insurers. The Dentix model, based on its own clinics, aims to make cutting-edge dentistry accessible to everyone.
On the one hand, this is achieved because all clinics are owned (not
franchised), which allows to eliminate the margins of intermediaries and
to maintain a rigorous control over the management of the clinics, its
processes and patient services. On the other hand, Dentix buys materials
at an international level, achieving economies of scale by negotiating
prices with its global suppliers and achieving better conditions. And
lastly, the use of cutting-edge technologies, such as CAD-CAM or
About KKR
KKR is a leading global investment firm that manages investments
across multiple asset classes including private equity, energy,
infrastructure, real estate, credit and hedge funds. KKR aims to
generate attractive investment returns by following a patient and
disciplined investment approach, employing world‐class people, and
driving growth and value creation at the asset level. KKR invests its
own capital alongside its partners’ capital and brings opportunities to
others through its capital markets business. References to KKR’s
investments may include the activities of its sponsored funds. For
additional information about
View source version on businesswire.com: http://www.businesswire.com/news/home/20161215005584/en/
KKR
victor.mallet@finsbury.com
+44
(0)20 7251 3801
Source: KKR
Back to Press Releases
Media Contacts
Americas
Miles Radcliffe-Trenner
Telephone: +1 (212) 750-8300
Email: media@kkr.com
Investor Relations
Craig Larson
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
Facsimile: +1 (212) 750-0003
Email: Investor-Relations@kkr.com