WhiteHorse Capital Provides a First Lien Term Loan to PG Dental
MIAMI – December 8, 2020 – WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, a leading global alternative investment firm with $42 billion of equity capital under management, provided a new first lien term loan to support PG Dental Holdings, LLC’s (“PG Dental” or the “Company”) and TriSpan LLP’s (“TriSpan” or the “Sponsor”) acquisition of Allied Dental Holdings, LLC (“Allied Dental”). The merger will create one of the largest multi-modality dental support organization’s (“DSO”) in the mid-Atlantic region.
“The WhiteHorse Capital team was a great financial partner throughout the transaction. We were impressed with their ability to move quickly and be creative when structuring the transaction to meet our needs, and look forward to continuing our partnership as we grow our business,” said Baudoin Lorans, Partner at TriSpan.
Javier Casillas, Managing Director at WhiteHorse Capital, added, “We are thrilled to support Trispan and the Company as they continue to execute against their growth plan.”
About PG Dental
PG Dental is a dental service organization that provides non-clinical business services to independently owned and operated dental practices currently operating in New Jersey, Pennsylvania and Maryland. PG Dental’s practices offer a range of services from basic exams and cleanings to specialty services, including pediatrics, endodontics, periodontics, orthodontics, and oral surgery.
Similar to PG Dental, Allied Dental has a long history of providing quality care to patients in New Jersey, Pennsylvania and Maryland, and the combination with PG Dental will establish the largest network of affiliated practices in New Jersey, while expanding the merged company’s footprint in Pennsylvania and Maryland. Pro forma for the transaction, PG Dental will support 79 multi-specialty dental practices in their efforts to provide best-in-class clinical care for patients.
About WhiteHorse Capital
WhiteHorse is the direct lending affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with $42 billion of equity capital under management.* WhiteHorse provides debt financing to middle market companies across a broad range of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across the U.S. and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long-term relationship-oriented portfolio management philosophy.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.