Recapitalization and Add-on Affiliations for Michigan Dental Support Organization

Madison Heights based Redwood Dental recently went through the recapitalization process with Silver Oak Service Partners, Redwood Dental management and several other unnamed partners.  The Redwood management team will retain significant ownership stakes in the business.

Founded in 1982, Redwood is a provider of general and specialty dentistry services in Detroit, MI, operating eight locations throughout the Detroit metropolitan area.  Redwood Dental has practices in Canton, Madison Heights, Shelby Township, St. Claire Shores, Troy, Warren, Westland, and Woodhaven.

Redwood Dental also completed three add-on affiliations with the addition of Signature Smiles of Lathrup Village, Holly Dental Care, located in in Holly, MI and Affordable Dental Care.  Signature Smiles and Affordable Dental Care operate out of the same location, but are two separate dental practices.  With these additions Redwood Dental now has 11 practices in ten locations under management treating approximately 70,000 patients annually.

“We are proud to announce our growth investment from Silver Oak, as well as the addition of three dental practices to our platform. We believe our partnership with Silver Oak will significantly enhance our growth trajectory going forward,” said Dr. Mark Bouchillon, President of Redwood. Dr. Bouchillon will remain a part of the executive team at Redwood.

Dr. Jeff Solomon, previous CEO of Signature Smiles and Affordable Dental Care, will become CEO of Redwood Dental.  “We are excited about our partnership with Silver Oak. Silver Oak’s experience in growing center-based healthcare services businesses made them ideal partners for us, and they bring the additional capital resources and expertise we need to significantly grow the company,” said Dr. Jeff Solomon.  Dr. Solomon received his undergraduate degree from Michigan State University and his DDS from the University of Detroit Mercy School of Dentistry. An avid learner, Dr. Solomon continues to hone his skills through postgraduate study and has completed courses in CEREC , Invisalign , sedation dentistry, cosmetic dentistry, head and neck pain, TMJ disorders, endodontics, and total patient care and comfort techniques.

Silver Oak was attracted to dental services as a compelling sector for investment due to the recession-resistant nature of the sector, high fragmentation of the industry, low level of capital intensity and the availability of acquisition targets at reasonable multiples. Dan Gill, Managing Partner at Silver Oak, said, “We are excited to partner with Dr. Bouchillon, Dr. Solomon and the rest of the team at Redwood. Redwood is well-known in the industry for its high-quality patient care, and we believe Redwood has developed a best-in-class platform from which to grow.” Redwood is actively looking for add-on acquisition opportunities.

 

 

 

 

Sources: PR Newswire, Redwood Dental, Signature Smiles

To view Redwood Dental’s profile on JoinDSO.com click HERE.