SALT LAKE CITY, Nov. 16, 2016 /PRNewswire/ -- Peterson Search Partners (Peterson) has invested in Light Wave Dental Management (Light Wave), which is seeking to revitalize the rapidly-changing dental industry.
With well-capitalized investment partners, Light Wave is moving away from larger DSOs and traditional corporate dentistry to create better solutions for older dentists trying to find the right solution for retirement, and younger dentists in search of a better way to buy into a practice. Light Wave's mission is to empower older and younger dentists by providing a rewarding retirement for older dentists, reducing financial risk for younger dentists, improving work-life balance by handling all business functions, and improving officer operations with the singular goal of the optimal patient-dentist interaction. The deal officially closed on November 1, 2016, with the acquisition of eight top-tier dental offices in Virginia.
"The U.S. dental market, which is just now starting to reap the tremendous benefits brought by technology, is forecast to consolidate for the next decade," said Aaron Gabbart, a vice President at Peterson Search Partners. "We are very confident in the new CEO, Justin Jory, the lead investment partner, Alpine Investors, and our mutual investment in the future of Light Wave Dental. This combination of untapped market opportunity and the excellent leadership was very attractive to us."
Perkins Coie provided legal representation.
About Light Wave Dental Management The dental industry is experiencing a wave of rapid change with many retirement-ready dentists and a heavily indebted younger generation of dental graduates. Older dentists struggle to find the right solution for retirement and younger dentists struggle to find a better way to buy into a practice. Light Wave Dental Management is dedicated to creating a better alternative for both. www.lightwavedental.com.
About Peterson Partners Peterson Partners is an independent investment management firm based in Salt Lake City, UT. Since its founding in 2003, we have raised eight growth-oriented private equity funds and have invested in over 130 companies across a variety of asset classes. We seek to be a true value-add partner to the entrepreneurs we back, and we look for entrepreneurs who desire more than just capital from an investment partner. www.petersonpartners.com