Skip to content

Clairfield advises the Pluradent Group on sale to Deutsche Mittelstandsholding

Pluradent Group, Germany’s second largest distributor of dental consumables, dental practice equipment and accompanying technical support services, will be acquired by Deutsche Mittelstandsholding, a German investment holding as part of a debtor in possession insolvency proceeding.

Pluradent Group, established in 2001 by a merger of ten dental depots and headquartered in Germany, is the second largest dental distributor in Germany with over €300 million in sales and is known for innovative practice concepts, quality technical service support backed by an efficient supply chain subsidiary, GLS Logistik, which fulfills both Pluradent and third party logistics to the European dental industry.

Deutsche Mittelstandsholding (“DMH”) is a German investment holding focusing on special situations within the German “Mittelstand” or mid-sized companies. DMH provides long-term equity for further corporate development and supports its portfolio companies strategically, commercially and operationally.

Pluradent Germany as well as its subsidiary GLS Logistik both filed for insolvency under self-administration in February 2020 just as the COVID-19 lockdown began. Restructuring experts at the law firm Greenberg Traurig were appointed to the management boards of Pluradent and GLS Logistik to oversee the insolvency process. The insolvency lawyers and creditors committee selected Clairfield for its expertise in dental distribution and a structured M&A process was initiated in the middle of the March COVID-19 lockdown.  The stakes could not have been higher since the alternative was the liquidation of both companies which would result in significant unemployment. The deal team conducted extensive discussions throughout lockdown with both strategic and financial investors, and Deutsche Mittelstandsholding was selected at the conclusion of this competitive “virtual/ fully online” M&A process. Pluradent and GLS Logistik have since emerged from insolvency as parts of the “New Pluradent” Group sporting a completely debt free balance sheet, a radically reduced cost structure, and a completely new investor base.

“Clairfield had followed the company and dental distribution sector for some time and as such was the logical choice in finding an appropriate partner. We finished this deal with the Clairfield team under extremely challenging COVID-19 conditions,” said Christian Köhler-Ma, Partner at GT Restructuring.

“The term “getting it done” took on a whole new meaning in lock-down given legal timetable constraints. Imagine virtual plant visits, management presentations, one-on-one video sessions with key employees, a fully on-line due diligence process, and you begin to appreciate the organisational care required to achieve a successful outcome,” said Dr. Gordon Geiser, Partner at GT Restructuring.

“Deal team tenacity and communication skills during the COVID-19 lock-down were put to the test in market conditions where “cash conservation”, investment stops, and a complete travel lock-down had to be overcome,” said Karsten Hemmer, CEO of the Pluradent Group.

“Clairfield understood the importance of seamless logistics delivery linked to technical service in modern dental distribution,” said Michael Herdt, Managing Director of GLS Logistik.

Healthcare

Drapeau Germany

Sale

Advisor to the sell side

Services :

Mergers & acquisitions

Sectors :

Healthcare

Countries involved :

Germany

Similar transactions

Subject to approval by the relevant competition and regulatory authorities, Pluradent GmbH & Co. KG will be sold in a simultaneous transaction in which Aurelius Private Equity, a prominent German private equity group, will also acquire the dental bauer dental distribution group from the Linneweh family to create a leading German dental distribution platform with more than EUR 300m in revenues.

Read more

Healthcare

Drapeau Germany

Sale

Advisor to the sell side

Estetique (Polanica‐Zdrój), one of the leading dental clinics in southwest Poland sold a majority stake to Tar Heel Capital (THC), a Poland‐based private equity firm.

Healthcare

Drapeau Poland

Sale

Advisor to the sell side

Groupe Nadia sold one of its subsidiaries, Prodont Holliger, one of the top three European manufacturers of dental instruments, mirrors, abrasives, waxes and models,  to Acteon, a world leader in dental equipment and imaging. Acteon is backed by Bridegepoint Capital.

 

Healthcare

Drapeau France

Sale

Advisor to the sell side

Dentica24 sp. z o.o., the leading chain of private dental clinics in the province of Silesia (south of Poland) operating under the DenticaCenter brand, sold a majority stake to Tar Heel Capital, a Poland-based private equity firm.

Healthcare

Drapeau Poland

Sale

Advisor to the sell side

iDentical, one of the leading orthodontic clinics in the Tricity agglomeration, was acquired by United Clinic S.a.r.l., backed by Innova Capital.

Healthcare

Drapeau Poland

Sale

Advisor to the sell side

Flèche vers la gauche
Flèche vers la droite