EQT Mid Market to sell its stake in swiss smile to Jacobs Holding AG

  • EQT Mid Market to sell its stake in swiss smile, a leading quality dental chain in Switzerland, to Jacobs Holding AG
  • During EQT Mid Market’s investment period, swiss smile has developed its corporate platform, made several add-on acquisitions and strongly increased revenues as well as strengthened the management team

The EQT Mid Market fund (“EQT Mid Market”) has entered into an agreement to sell its stake in swiss smile (or the “Company”) to Jacobs Holding AG (“JAG”).

swiss smile is headquartered in Zurich and was founded in 2002 by the dentists and entrepreneurs Dr. Haleh Abivardi and Dr. Golnar Abivardi. The Company operates eleven clinics in Switzerland, provides a full range of dental care and services, and differentiates itself through a strong brand, high medical standards, convenient opening hours, a modern infrastructure and an outstanding patient experience. In addition, swiss smile has its own cosmetic products range in a joint venture which are distributed internationally.  

EQT Mid Market invested in swiss smile in August 2013. The plan was to build and develop its corporate platform, expand the market position and accelerate growth. swiss smile has undergone a significant transformation together with EQT Mid Market through several key initiatives:

-       Development of the organizational structure to prepare for further growth

-       Acquisition of four dental practices to strengthen the footprint in Switzerland and manifest the already strong position in Zurich

-       Opening of two new greenfield practices in Winterthur and Berne

-       Strengthening the management team

-       Substantial investments in marketing and corporate branding

The growth initiatives have resulted in strong financial performance, with swiss smile nearly doubling revenues in the period from 2012 to 2016.

“Since EQT invested in swiss smile, the market position in Switzerland has been strengthened further through acquisitions and greenfield openings while at the same time accelerating financial growth. The Company has evolved into a strong platform in its service offering to both patients and dentists. swiss smile is well prepared to continue to drive consolidation of the Swiss dental market. The management team has done an impressive job and we look forward to seeing swiss smile develop as part of JAG who have recently invested in the dental sector also in the Nordics and UK,” says Vesa Koskinen, Partner at EQT Partners and Investment Advisor to EQT Mid Market.

The parties have agreed not to disclose the financial details of the transaction which is expected to close by the end of June 2017.

Contacts
Vesa Koskinen, Partner at EQT Partners, Investment Advisor to EQT Mid Market, +358 9 69624737
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 36 billion in raised capital across 23 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More information: www.eqtpartners.com 

About swiss smile

swiss smile is a leading quality dental chain in Switzerland. Founded in 2002 by the dentists and entrepreneurs Dr. Haleh Abivardi and Dr. Golnar Abivardi, swiss smile today operates eleven clinics in Switzerland. swiss smile provides a full range of dental care and services and differentiates itself through a strong brand, high medical standards, convenient opening hours, a modern infrastructure and an outstanding patient experience. Both in Switzerland and internationally, swiss smile has won several prizes for its innovative concept, exceptional services and excellent quality.

More information: www.swiss-smile.com

About Jacobs Holding AG
Jacobs Holding is a global professional investment firm based in Zurich and founded in 1994 by entrepreneur Klaus J. Jacobs. Its sole economic beneficiary is the Jacobs Foundation, one of the world’s leading charitable foundations dedicated to child and youth development. Jacobs Holding has an established track record of holding its investment for long periods with the aim to successfully compete and become global market leaders in their respective fields. Previous investments include Jacobs Suchard AG and Adecco Group AG, current investments are Barry Callebaut AG, Colosseum Smile and Southern Dental.

More information: www.jacobsag.ch