(Alliance News) - Oakley Capital Investments Ltd on Thursday noted that Oakley Capital Fund V is buying a dental firm.
The investment company providing access to Oakley Capital Private Equity funds said that Oakley Capital Fund V is buying Flemming Dental, Excent, and Artinorway Group in a carve-out from European Dental Group, an oral care and services provider.
The acquisition for an undisclosed sum is "to form one of the leading dental laboratories groups in Europe," Oakley said.
The bought company currently services around 5000 clinics across nearly 70 dental laboratories in Europe.
Excent co-founder and chief executive officer of the new combined entity Hidde Hoeve said: ""In Oakley we have the ideal partner to support Flemming Dental, Excent and Artinorway Group as they begin the next chapter as an independent business. We are well positioned to capitalise on the accelerating digitalisation of dental laboratories. Together with the current management, we will maintain focus on our clients, local craftsmanship and innovation. Oakley's expertise will be invaluable as we execute our growth strategy to become the leader in the global dental lab market."
Oakley Capital Investments shares were 0.8% higher at 450.00 pence each on Thursday morning in London.
By Tom Budszus, Alliance News reporter
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Oakley (OCI)