JLL Partners To Buy American Dental

Funds associated with JLL Partners, a private equity firm, are acquiring American Dental Partners in a $398 million deal which includes $81 million in existing debt.

Funds associated with JLL Partners, a private equity firm, are acquiring American Dental Partners in a $398 million deal which includes $81 million in existing debt. As per the agreement between the two parties, holders of the company’s outstanding common shares will get $19 per share in cash. American Dental Partners is a leading business partner of dental group practices in the U.S.

Independent financial adviser Greenhill & Co. and independent legal adviser Wilmer Cutler Pickering Hale and Dorr are assisting the special panel of the company’s board which negotiated the deal. Bank of America Merrill Lynch is the financial adviser to the company and Baker & Hostetler is giving legal advice to it. JLL’s legal and financial advisors are Simpson Thacher & Bartlett and Jefferies & Co., respectively. JLL has obtained committed debt funding from KeyBank National Association, CIT Healthcare and NXT Capital to pay for the acquisition.

Click here for the release from American Dental Partners.