ATLANTA - Sept. 28, 2016 // PRNewswire // - Roark Capital Group, an Atlanta-based private equity firm focused on consumer brands and multi-unit businesses, announced today that its affiliate has acquired Great Expressions Dental Centers. Rich Beckman will continue to lead the business as CEO, and the company will remain headquartered in Southfield, Mich. Terms of the transaction were not disclosed.
"This transaction marks an exciting new chapter for the company," Beckman said. "With our new partner, Roark, we look forward to accelerating our strategy of growth through affiliation with other high-quality dental practices. We also look forward to leveraging Roark's consumer and branding expertise to enhance our own Great Expressions brand. We appreciate the support and partnership OMERS Private Equity offered throughout the life of their investment."
Great Expressions provides comprehensive affordable dental services through its network of 269 affiliated practices staffed by more than 900 dentists and hygienists who care for over 600,000 patients per year. Founded in 1982 and operating as a single brand, Great Expressions is one of the largest dental support organizations (DSO) in the United States.
Neal Aronson, Roark's Managing Partner, said, "Great Expressions is the branded DSO of choice for dentists desiring an affiliation and for consumers desiring consistent, quality care. It's the perfect company to launch Roark's entrance into retail healthcare."
Tim Armstrong, Managing Director at Roark, noted, "We're partnering with an outstanding, experienced, and long-tenured management team to accelerate the growth of the business from their already proven and successful strategy."
Paul, Weiss and DLA Piper acted as legal counsel to Roark. Jefferies LLC served as financial advisor to Great Expressions.
For nearly 40 years, Great Expressions has been a leader in preventative dental care, orthodontics and specialty care with offices in Connecticut, Florida, Georgia, Massachusetts, Michigan, New Jersey, New York, Ohio, Texas and Virginia. Great Expressions is consistently recognized for contributions to improving oral health through quality and safety initiatives, affordable dental care services, patient convenience, research and more. Great Expressions Dental Centers branded practices are independently-owned and operated in specific states by licensed dentists and their professional entities who employ the licensed professionals providing dental treatment and services. ADG, LLC provides administrative and business support services and licenses the Great Expressions Dental Centers brand name to independently-owned and operated dental practices. ADG does not own or operate dental practices, or employ the licensed professionals providing dental treatment and services. For more information, please visit www.greatexpressions.com.
Roark focuses on franchised and multi-unit business models in the retail, restaurant, consumer and business services sectors. Affiliates of Roark have invested in 56 franchise/multi-unit brands which collectively generate $21 billion in annual system revenues from 23,000 locations in 50 states and 75 countries. Roark's current brands include Anytime Fitness, Arby's, Atkins Nutritionals, Batteries Plus Bulbs, CKE Restaurants (the owner of Carl Jr.'s and Hardee's), Corner Bakery, Driven Brands (the owner of Maaco, Meineke, CARSTAR, 1-800-Radiator and Take 5 Oil Change), Drybar, FOCUS Brands (the owner of Auntie Anne's Pretzels, Carvel Ice Cream, Cinnabon, McAlister's Deli, Moe's Southwest Grill, and Schlotzsky's), Il Fornaio, Massage Envy, Miller's Ale House, Naf Naf Grill, Orangetheory Fitness, Pet Retail Brands (the owner of Pet Supermarket and Pet Valu), Primrose Schools, Waxing the City and Wingstop. For more information, please visit www.roarkcapital.com.
SOURCE Roark Capital Group
Roark Capital Group
Fishman Public Relations
Great Expressions Dental Centers
Lambert, Edwards & Associates
Roark focuses on consumer and business service companies, with a specialization around franchised and multi-unit business models in the retail, restaurant, consumer and business services sectors.