Clairvest Enters Dental Industry Through Investment in Childsmiles Group
TORONTO and NEWARK, N.J., March 02, 2020 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX: CVG) (“CVG”) today announced that it, together with Clairvest Equity Partners V (“CEP V”) (together “Clairvest”), entered the U.S. Dental industry by acquiring a 50% interest in The Childsmiles Group LLC (“Childsmiles”, or “the Company”) to be equal partners with the Company’s founders in Childsmiles’ next phase of growth.Childsmiles was founded in 2008 by Drs. Michael Skolnick, Orthodontist, and Brooke Skolnick, Board Certified Pediatric Dentist, as a multi-specialty dental practice providing families with access to high quality oral health care regardless of means. The Company expanded its footprint to five practices across New Jersey employing a passionate team of over 250 staff. Clairvest’s partnership with Childsmiles will support the Company’s continued expansion.“We are excited to partner with the talented management team at Childsmiles. Over the past 2 years, we have reviewed dozens of opportunities in the dental services domain and have been deeply impressed with the Company’s culture and ability to deliver high quality dental services through a scalable and cost-effective model. We have high confidence in our partners’ ability to execute on a successful expansion plan and look forward to supporting them in whatever manner we can to ensure their success”, said Michael Wagman, President and Managing Director of Clairvest Group.“Clairvest has a proven track record of helping build great companies and we are excited to have them join our team. We were looking for a partner-oriented equity investor like Clairvest to support our growth plan. Childsmiles has a unique patient centric culture that will help ensure we can scale effectively while maintaining an exceptional level of service to the families and children we look after,” said Michael Skolnick, CEO of Childsmiles.Childsmiles is Clairvest’s 56th platform investment and the 12th investment by CEP V. The Clairvest / CEP V co-investment pool is capitalized at $600 million and focuses on equity investments in growth companies.About Clairvest
Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $2.4 billion of capital under management. Clairvest invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in owner-led businesses. Under the current management team, Clairvest has initiated investments in 51 different platform companies.Clairvest Contact Information
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