EQT backs accelerated growth of Swiss dental chain swiss smile
ID: 926698
Press Release August 14, 2013EQT backs accelerated growth of Swiss dental chain swiss smile
- EQT invests in leading dental chain swiss smile
- EQT and the founders become the sole owners
- EQT provides new funds to boost accelerated growth strategy
EQT has invested CHF 44 million in Swiss dental chain swiss smile ('swiss
smile' or the 'Company') based on a partnership agreement with the founders
and majority owners Dr Haleh Abivardi and Dr Golnar Abivardi. The sisters
are both dentists and founded swiss smile in 2002. The existing minority
shareholders have been bought out with the new funds provided by EQT.
swiss smile operates several clinics in Switzerland and has franchises or
joint ventures in UK, Russia and India. The Company is the leading quality
dental chain in Switzerland with a 28% market share among dental chains.
swiss smile also has its own cosmetics products range in a joint venture.
The funds provided by EQT will be used to further develop the existing
business and expand in Switzerland, mainly through acquiring top quality
clinics, often with a high degree of specialization.
'The Swiss dental market is attractive, not the least because it is
extremely fragmented. swiss smile has a proven track record in expanding
both organically and through acquisitions and we are happy to partner with
the founders in the continued growth and development of this well
positioned business', says Stanley Brodén, EQT Industrial Advisor and
designated vice Chairman of the swiss smile Board of Directors.
Over the past two years swiss smile has already made several successful
acquisitions. The Swiss market for dental care is divided among more than
4,500 dentists. Around 25% of all Swiss dentists are planning retirement
before 2020, creating a need for ownership change in many clinics. In
addition, dental chains are expected to gain market share in the coming
years as patients increasingly demand more convenient opening hours, a
modern infrastructure and high medical standard.
'With EQT, we have found a strategic partner that brings both capital and
thorough experience and sector knowledge. Together, we will be able to
drive the development of swiss smile and a consolidation of the Swiss
dental market', says Dr Haleh Abivardi who shares the role of CEO with her
sister Dr Golnar Abivardi.
Contacts:
Johan Hähnel, EQT Spokesman +46 8 506 55 334
Michael Föcking, EQT Partners +49 69 247 045 130
Stanley Brodén, EQT Industrial Advisor +46 706 02 72 11
About EQT
EQT is the leading private equity group in Northern Europe with
approximately EUR 20 billion in raised capital, portfolio companies with
total sales of more than EUR 25 billion and over 550,000 employees. The
funds' investment philosophy is to help acquired companies grow and develop
into great and sustainable companies, both under EQT's ownership and with
future owners. The result so far: the over 60 previously or currently owned
portfolio companies have during EQT's ownership seen an average annual
increase in the number of employees by 11%, sales by 11% and earnings by
15%. Almost all of the return on investments is attributed to operational
improvements such as increased sales and efficiency gains.
EQT supports a growth oriented business strategy, which has its roots in
the Nordic culture, and a transparent governance model, combined with
access to EQT's unique international network of industrialists. By
implementing clear strategies and having access to operational expertise
and ownership skills, the portfolio companies develop and grow. The
strategies and implementation of operational excellence are driven by the
appointed CEO and management team, board members who are handpicked from
EQT's Industrial Network. Portfolio companies are monitored by more than
120 Investment Advisory Professionals from EQT Partners. EQT's funds
represent the investment of hundreds of investors from all parts of the
world.
Funds launched since the beginning of 2012 are managed in the Netherlands,
the UK and Luxembourg. EQT Holdings AB, based in Stockholm, Sweden is the
parent company of these general partners/fund managers. This means that EQT
applies a corporate structure with transparency for all stakeholders,
unique in the private equity industry.
EQT's mission since its first investment two decades ago remains the same -
create value in medium-sized to large companies in Northern and Eastern
Europe, Asia and the United States by investing, helping them to develop
and transform into great, leading companies.
More information can be found on www.eqt.se
About swiss smile
swiss smile is the leading quality dental clinic chain in Switzerland. The
Company differentiates itself via a broad service offering, high quality
standards and long opening hours, thereby providing patients with maximum
flexibility. Besides its operations in Switzerland, swiss smile has
franchises or joint ventures in UK, Russia and India. Both in Switzerland
and internationally, swiss smile has won several prizes for its innovative
concept, exceptional services and excellent quality
More information can be found on www.swiss-smile.com
Ende der Pressemitteilung
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Emittent/Herausgeber: EQT Partners AB
Schlagwort(e): Finanzen
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225862 14.08.2013
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Datum: 14.08.2013 - 11:59 Uhr
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