Advent International acquires Vitaldent from JB Capital Markets and Kartesia
Kartesia is pleased to announce the divestment in Vitaldent, following the agreement between the majority shareholder JB Capital Markets as seller and Advent International (“Advent”) as acquiror to take control of the KCO IV portfolio company. The closing of the transaction is pending approval from the relevant competition authorities.
Vitaldent is the leading full-service dental provider in Spain and Italy operating the broadest network of clinics in Southern Europe. Acquired in November 2016 by JB Capital Markets, Vitaldent has recovered the leading position in the market thanks to its ability to restore confidence in its patients, dentists, suppliers and employees, provide financial stability and strengthen management capabilities at every level.
The management team led by Javier Martín, who was the driver of the recovery in 2017 and 2018, will remain in place, heading the day-to-day operations and implementing the strategic plan.
The investment of Kartesia in 2018 contributed to strengthening the capital resources of Vitaldent by providing additional funding for growth, which has proven to be key driver for the successful exit to Advent.
Jaime Prieto, Managing Partner at Kartesia, commented: “We are delighted to announce this successful exit from Vitaldent which, with the help of Kartesia’s financing package and an excellent management team, has made a full, successful recovery. We wish Javier and the team all the best in the future as it continues on this strong growth trajectory.”