Bridgepoint has acquired Oasis Healthcare, which is one of Britain’s biggest private dental chains, in a deal worth £185 million from buyout group Duke Street Capital, marking its second takeover in six years.
Total banking facilities of £146.5 million have been arranged through Bank of Ireland, Barclays, GE Capital, HSBC, ING and Societe Generale.
Under the terms of the deal, Duke Street Capital will exchange a portion of the proceeds for a minority stake in the business.
Bridgepoint’s other investments include fashion retailer Fat Face and sandwich chain Pret A Manger and and promise to invest a further £60 million in Oasis to develop the dental services chain.
Justin Ash, chief executive of Oasis, said the group is planning 'on-going and rapid expansion'.
Oasis, which was founded in 1996, has more than 200 dental practices in the UK and more than 2,000 staff, including 800 dentists.
It is a major supplier to the NHS as well as offering private services. Oasis has dental practices across Yorkshire in Leeds, Sheffield, Bingley, Askern, Hull, Bridlington, Keighley, Ripon, Heckmondwike, Pontefract, Doncaster, Settle and York.
The company provides both NHS and private care and offers general, cosmetic and specialist treatment. The British dental market is said to be worth £7 billion, with about 10,500 private practices tapping demand for treatment from an expanding, ageing population.