IK Investment Partners (“IK”) is pleased to announce that the IK 2007 Fund has reached an agreement to sell Colosseum Smile Group, leading provider of private dental care in Scandinavia, to Jacobs Holding AG (“JAG”). Financial terms of the transaction are not disclosed.
Colosseum Smile Group was acquired by IK in 2010 and has since then accelerated its growth and consolidation of the Scandinavian dentistry market. Today Colosseum Smile is the leading provider of private dental care in Scandinavia with 52 clinics in Norway, Sweden and Denmark, offering a range of services from basic dental care to specialist surgery.
“Together with our employees and supported by IK, we have successfully developed Colosseum Smile from two smaller dentist chains to a high quality private dental care provider. We believe we have now reached a phase when we, together with JAG, will be able to take the next step in our development to reach our mission to be the best and most recognised Scandinavian provider of modern dental care for both customers and producers,” said David Halldén, CEO of Colosseum Smile.
Headquartered in Oslo, Colosseum Smile offers a full range of dental care services through its state of the art clinics across Scandinavia. The group has more than tripled in size since IK acquired Colosseum in Norway 2010 and merged Colosseum and Smile in Sweden in 2014.
Colosseum Smile has taken an active role in consolidating the fragmented dental care markets in Norway, Sweden and Denmark. Today the group’s sales amount to over 1.2 billion NOK.
”With numerous acquisitions and a merger, and together with Colosseum Smile’s management team, we have successfully transformed the company from an entrepreneurial endeavor to a leading chain in Scandinavia. The company is a first mover to integrate and consolidate the Scandinavian market, and is now ready to further leverage its platform,” said Thomas Klitbo, Partner at IK Investment Partners and advisor to the IK 2007 Fund.
“We are looking forward to acquire Colosseum Smile Group with its strong track record of delivering high quality care and offering excellent value to its patients and producers alike. We are excited to partner with the management team, and support them in their continuous efforts of building the leading dentistry chain in the Nordics,” said Tomas Aubell, Head of Investments at JAG.
The transaction is expected to close in the beginning of 2017.