Apposite Capital-backed Riverdale acquires Prettygate Dental
Apposite Capital-backed dental group Riverdale Healthcare has acquired Prettygate Dental in Colchester, Essex for an undisclosed sum. This latest acquisition takes Riverdale to 40 practices plus a dental laboratory.
The news follows Riverdale’s acquisition of Lion House Dental Practice in February.
Founded in 2018, Riverdale Healthcare is dental group with dental practices located in the North of England which deliver both NHS and private dental treatment. The group generated around £9 million in revenue and an EBITDA of around £643,000 in the year to March 2021, according to Companies House filings.
Established in 2007, Prettygate Dental today offers both NHS and private dental treatment to patients across the Southeast of England through its two practices.
Chief investment officer of Riverdale, Chris Aylward said, “This is another exciting investment and further strengthens our proposition across the group. Prettygate Dental has been established for over 40 years; therefore, we are delighted to be welcoming their experience into the group.
“The acquisition has been a smooth process. The teams at Apposite Capital, Pinsent Masons and Hazelwoods have yet again provided an outstanding service as we continue our growth strategy.”
Emma Barnes, chief executive of Riverdale, added, “The addition of Prettygate Dental emphasises how we continue to effectively implement our growth strategy, and is exciting as it forms part of our planned strategy to extend our offering in the South of the country.”
Apposite Capital is roumored to have appointed PwC to explore sale options, with a potential process likely to start in late 2022, according to credible market sources.