Charlesbank Capital Partners’ Growth Investment in MB2 Dental

Goodwin Procter LLP advised Charlesbank Capital Partners on the deal.

Charlesbank Capital Partners, a middle-market private investment firm, announced that an affiliated fund has made a significant growth investment in MB2 Dental, acquiring a majority interest from funds affiliated with Sentinel Capital Partners and management. Founded in 2007, MB2 Dental (“MB2” or the “Company”) is a leading dental partnership organization (“DPO”) with affiliated practices across 24 states. The remaining stake in MB2 is held by CEO and founder, Dr. Chris Steven Villanueva, management and its doctor owners, who reinvested a substantial percentage of their equity. KKR & Co. led the debt financing for the transaction.

Headquartered in Dallas, Texas, MB2 has partnered through a joint-venture partnership model with approximately 200 doctor owners operating over 275 dental practices. Given their unique doctor-centric culture and financial model, MB2 has become one of the country’s fastest-growing dental platforms, affiliating with over 160 practices since 2018. Additionally, MB2 has demonstrated an ability to add value to doctor owners post-acquisition by providing strategic support to practices, alleviating administrative burdens, and expanding dentistry services, all of which serve to drive significant organic growth.

Moelis & Company served as lead financial advisor to MB2, with Kirkland & Ellis, Nixon Peabody and Polsinelli serving as legal counsel in connection with this transaction. Charlesbank was represented by Goodwin Procter as legal counsel.

Charlesbank is a middle-market private investment firm managing more than $7 billion of capital.

MB2 Dental is a leading dental partnership organization with affiliated practices across 24 states.

The Goodwin team was led by Jim Curley (Picture), Eric Carlson, Anne Cataldo, Dan Murray, and Sonia Wu, and included David Patton, Jonathan LaPlante, Milena Tantcheva, Mohammed Alvi, Jim Mattus, Rachel Faye Smith, James Devendorf, Emily Hingston, Jeremy Slotnick, Tim Holahan, Steve Charkoudian, Riley Lovendale, Jacqueline Klosek, Paul Jin, Kirby Lewis, Kara Kuritz, Ai Tajima, Nathan Brodeur, Paul Verbesey, and Amy Johnson.

Involved fees earner: Mohammed Alvi – Goodwin Procter; Nathan Brodeur – Goodwin Procter; Eric Carlson – Goodwin Procter; Anne Cataldo – Goodwin Procter; Stephen Charkoudian – Goodwin Procter; James Curley – Goodwin Procter; James Devendorf – Goodwin Procter; Rachel Faye Smith – Goodwin Procter; Emily Gourdine Hingston – Goodwin Procter; Timothy Holahan – Goodwin Procter; Paul Jin – Goodwin Procter; Amy Johnson – Goodwin Procter; Jacqueline Klosek – Goodwin Procter; Kara Kuritz – Goodwin Procter; Jonathan LaPlante – Goodwin Procter; Kirby Lewis – Goodwin Procter; Riley Lovendale – Goodwin Procter; James Mattus – Goodwin Procter; David Patton – Goodwin Procter; Jeremy Slotnick – Goodwin Procter; Ai Tajima – Goodwin Procter; Milena Tantcheva – Goodwin Procter; Paul Verbesey – Goodwin Procter; Sonia Wu – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Charlesbank Capital Partners LLC;

Author: Martina Bellini