22 January 2025

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Branford Castle Acquires Eastern Dental Management From Staple Street Capital

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Branford Castle Partners, a North American-focused private equity firm, recently announced that it has acquired Eastern Dental Management (the “company”), a leading dental services organization, from an affiliate managed by Staple Street Capital. Terms of the transaction were not disclosed.

Eastern Dental marks the eighth and likely final platform investment and fourteenth acquisition overall for Branford Castle’s Fund II, which closed in 2021. In the second half of 2024, Branford Castle also acquired Hoffman Engineering, Testek Solutions, and Alzet Osmotic Pumps (a bolt-on to Lafayette Instrument). Further, it announced the successful exits of its investments in Clean Solutions Group and Earthlite Massage Tables.

With 20 locations throughout New Jersey, Eastern Dental is a long-standing and established leader in the state. Since its inception in 1978, the company has developed a strong brand reputation with customers and numerous payors. Eastern Dental’s CEO, Ray Iannaccone, MD, along with the rest of the existing management team, will remain with the company going forward.

Eric Korsten, senior managing director at Branford Castle, said, “We are excited to partner with Ray and the entire Eastern Dental team. For over a decade, we have seen attractive opportunities for growth in the dental services market. We believe that the company’s leading and highly established position in New Jersey, along with its diverse mix of general and specialized dentistry services, make it a terrific platform for growth.”

Mr. Iannaccone added, “Today’s milestone is a validation of our customer-focused culture as well as our great team of dentists, specialists, hygienists and support staff. We want to thank the team at Staple Street Capital for their partnership and support, which have been instrumental in helping us achieve operational excellence and best-in-class standards for patient satisfaction. We are excited to build on this strong foundation and look forward to our new partnership with Branford Castle as we pursue future growth opportunities together.”

The partners at Staple Street Capital said, “We are proud of the Eastern Dental team’s accomplishments and deeply appreciate their contributions to the business’s success. As a result of our partnership together, we were able to foster a patient-and provider-centric culture, and invest in the company’s people, processes and systems to drive a self-sustaining cycle of continuous improvement which positions the company for long-term success. We are confident that the company will continue to thrive as part of the Branford Castle family of companies.”

Ceon Francis, managing director at Branford Castle, said, “This important transaction would not have been possible without our long-time financing partner, Siguler Guff & Company, whose continued support of our growing portfolio is greatly valued.”

Branford Castle was advised by its legal counsel, Akerman LLP, and RSM served as its accounting/tax advisor. Staple Street Capital and Eastern Dental were advised by Weil, Gotshal & Manges LLP and Polsinelli as legal counsel. Lincoln International LLC acted as the exclusive financial advisor to Staple Street Capital in connection with the sale of Eastern Dental, its portfolio company. Siguler Guff & Company is providing unitranche debt capital and equity for the transaction.

About Branford Castle Partners

Branford Castle is a private market investor focused on lower middle-market investments, with more than 35 years of helping to grow businesses. The Firm typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford Castle prides itself on the strong relationships it develops with its portfolio company managers. Branford Castle has particular expertise in industrials/specialty manufacturing, healthcare, consumer products, business services and logistics.

Source: www.branfordcastle.com