#United States #Pittsburgh #recapitalization #TCW Steel City #Lone Peak Dental

TCW Steel City Announces Successful Recapitalization of Lone Peak Dental Group

Pittsburgh-based TCW Steel City has confirmed its role as lead arranger and administrative agent in the recent recapitalization of Lone Peak Dental Group. The transaction, valued at $170 million, involves a combination of a term loan, a revolving loan, and a delayed draw term loan aimed at facilitating future acquisitions.

Lone Peak Dental Group: A Growing Network

Lone Peak Dental Group, which is headquartered in Englewood, Colorado, has established a vast presence with over 75 locations across 14 states including Alabama, Arizona, and Texas. The organization specializes in pediatric dental care, working diligently to enhance access to quality services for children and their families. The group's growth story began in 2003 when it was founded by two pediatric dentists who initiated operations at just three locations in Denver.

Ray Caruso, the CEO of Lone Peak, expressed his enthusiasm about this new financial backing, stating that it provides the necessary momentum to accelerate growth without deviating from the organization's core mission of expanding access to care. The recapitalization is set to support the sustained expansion of Lone Peak’s network while maintaining its commitment to community-based care.

A Significant Financial Move

According to Walt Hill, representing Steel City, this financial maneuver reflects their commitment to delivering flexible capital solutions designed to support continued growth within the pediatric dental sector. In addition to TCW Steel City, other financial institutions including Brightwood, CIFC, and CalSTRS also participated as lenders in this substantial recapitalization effort.

The financing structure enables Lone Peak to explore new growth opportunities through strategic acquisitions while reinforcing its mission to provide dental care to underserved populations. Many of the locations chosen for their practices are specifically aimed at making dental services more accessible for families who would otherwise find it challenging to receive care.

With an operational strategy emphasizing both new practice openings and affiliations, Lone Peak Dental Group firmly believes in the values of community-focused dental care. This ethos is evident in its mission statement, which focuses on ensuring that every child receives the dental care they need, regardless of their financial circumstances.

The Role of TCW Steel City

TCW Steel City operates as a private credit platform that merges the experience of PNC Bank—one of the leading commercial banking institutions in the United States—with the robust asset management capabilities of TCW, which manages over $200 billion in assets. This partnership is designed to facilitate senior secured loans and specialty financing, catering to both sponsored and non-sponsored borrowers.

The collaboration has a rich history, having successfully completed over 60 joint transactions prior to the establishment of Steel City, thus ensuring a wealth of expertise in facilitating impactful financial transactions.

Overall, TCW Steel City's involvement in the recapitalization of Lone Peak Dental Group not only underlines their role as a pivotal player in the private credit landscape but also highlights a shared commitment between both organizations in enhancing community health. As Lone Peak moves forward, its focus will remain steadfast on bridging the gap in dental care accessibility for children, thereby contributing to healthier communities across the nation.

For more information on Lone Peak Dental Group and its mission, visit their website at www.lonepeakdentalgroup.com.

Disclaimer: The information contained in this article includes forward-looking statements that may be subject to change as future events unfold. TCW Steel City and PNC Bank do not undertake any obligation to update such statements.