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Riccobene Associates Family Dentistry was founded in 2000 as a single practice in Selma, NC. Since then, Founder and CEO, Dr. Michael Riccobene, has grown the company through de novo additions and acquisition of single and group practices.
In 2022, Riccobene won a prestigious spot on Group Dentistry Now‘s Emerging Groups to Watch list. Riccobene Associates Family Dentistry currently supports a growing network of 62 multi-specialty dentistry clinics across North Carolina, Virginia and South Carolina. They are one of the fastest growing multi-specialty dental practices in the Triangle.
Now, Comvest Private Equity, a middle-market private equity investment group, has announced a majority investment in the DSO, which is based in Cary, N.C., in partnership with Dr. Riccobene. Riccobene becomes the 14th healthcare services platform investment by Comvest’s private equity strategy.
“We are thrilled to partner with Comvest to execute Riccobene’s next chapter of growth,” Dr. Riccobene said. “Comvest brings considerable experience and success working alongside founders to scale multi-site consumer-focused healthcare services platforms, with a strong background and expertise in the dental services space. Comvest also shares our patient-first approach and our commitment to investing in advanced systems and technologies as well as in processes and teams to ensure the highest quality of clinic operations and patient care.”
Driven by its patient-first focus and doctor-centric culture, Riccobene has grown significantly in recent years and now supports more than 150 providers across its clinics. Dr. Riccobene has retained a meaningful stake in the business and will continue to lead the company in his current role as Chief Executive Officer alongside the existing management team. The specialties they serve are: General Dentistry, Pediatric Dentists, Oral Surgery, IV Sedation, Endodontists, Orthodontists, Dental Implants, and Cosmetic Dentistry.
“Riccobene is a best-in-class DSO platform with a strong founder- and physician-led team, an impeccable reputation among clinicians and patients, and a proven growth playbook that includes successful de novo launches and clinic acquisitions in an attractive geographic region,” said Marshall Griffin, a Partner of Comvest. “Comvest is excited to support Michael and his stellar team and provide strategic and operational resources to help accelerate Riccobene’s rapid pace of clinic expansion in the Southeast.”
“Riccobene is a best-in-class DSO platform with a strong founder- and physician-led team, an impeccable reputation among clinicians and patients, and a proven growth playbook that includes successful de novo launches and clinic acquisitions in an attractive geographic region,” said Marshall Griffin, a Partner of Comvest. “Comvest is excited to support Michael and his stellar team and provide strategic and operational resources to help accelerate Riccobene’s rapid pace of clinic expansion in the Southeast.”William Blair & Company served as financial advisor to Riccobene in connection with the transaction. DC Advisory and Cantor Fitzgerald & Co. served as financial advisors and McDermott Will & Emery served as legal advisor to Comvest.
Click on the link for the list of their locations and employment opportunities.
About Comvest Private Equity
Comvest Private Equity is the private equity strategy of Comvest Partners, a leading private equity and credit investment firm with $12.5 billion of assets under management and over $13.5 billion invested since its inception in 2000. Based in West Palm Beach, Comvest Private Equity pursues control investments in leading middle-market companies that can benefit from the strategy’s financial sponsorship, strategic guidance, and operating resources to build for lasting growth. Committed to the principles of partnership and collaboration, Comvest Private Equity’s investment professionals bring deep industry expertise, significant transaction experience, and a broad network of industry relationships to their work with management to execute strategic initiatives focused on driving growth and operational improvement in the core business.
Key executives in group:
- CEO & Founder – Michael Riccobene, DDS
- COO – Lorri Detrick
- CFO – John Bitsas
- CCO – Line Dempsey
- CDO – Miguel Gonzalez, DDS
- COS – Heba Abdel-Rahman
