#USA #New York #Avista Healthcare #Solmetex #AGIC Capital

Avista Healthcare Partners Concludes Sale of Solmetex to AGIC Capital

In a strategic move poised to reshape the dental sector, Avista Healthcare Partners, a prominent private equity firm based in New York, has officially completed the sale of Solmetex to AGIC Capital. Known for its advanced dental products and solutions, Solmetex is a key player in the market, specializing in dental amalgam waste compliance services.

The transaction signifies a new milestone for Solmetex, emphasizing the company's commitment to advancing innovation and delivering exceptional products within the dental industry. Notably, the specifics of the sale have not been disclosed, which often occurs in such high-profile transactions.

Sriram Venkataraman, a Partner at Avista, expressed gratitude towards the Solmetex management team, highlighting their effective partnership over the last four years. During this time, Solmetex has expanded substantially, supported by three crucial acquisitions including Sterisil, Dryshield, and Impladent. These strategic moves have broadened Solmetex's offerings, enhancing its ability to address the dynamic needs of the dental market.

Gene Dorff, the CEO of Solmetex, voiced his gratitude towards Avista, recognizing their pivotal role in facilitating Solmetex's evolution into a comprehensive provider of dental products and solutions. From its origins as a leading waste compliance service provider, Solmetex has grown to offer an expansive range of dental consumables, focusing on vital areas such as dental waterline safety management and infection control.

As Solmetex embarks on this new chapter under AGIC Capital, the company is poised to leverage AGIC's extensive industry expertise for further growth. Dorff emphasized the alignment of AGIC's vision with Solmetex's objectives, stating that both parties aim to drive innovation while delivering superior services to their growing customer base.

AGIC Capital is well-regarded for its investment strategies focused on healthcare and advanced industrial technology, making it a fitting partner for Solmetex as it continues to adapt to the evolving landscape of dental care. Since its inception in 2015, AGIC has successfully managed a robust portfolio, aiming to create lasting value for its investments across various sectors including healthcare.

Following the transaction, Robert W. Baird & Co. and Houlihan Lokey acted as financial advisors for Solmetex, while legal representation for Avista was managed by Willkie Farr & Gallagher LLP, and AGIC was represented by White & Case.

This strategic sale not only highlights Avista Healthcare Partners' commitment to supporting healthcare businesses but also positions Solmetex for new growth opportunities in the dental landscape. With the continued support from Avista, which retains a minority stake in Solmetex, the company looks forward to innovating and expanding its product offerings, thereby maintaining its competitive edge in the dental industry.

In summary, the acquisition marks a pivotal moment for both Solmetex and AGIC Capital, ushering in a new period of growth and innovation for a company that has long been dedicated to improving dental safety and compliance solutions. The future looks promising for Solmetex as they aim to set new standards in dental care excellence.

For more information about Solmetex and its range of dental products, visit www.solmetex.com. To explore AGIC Capital’s investment philosophy and portfolio, check out www.agic-group.com.