Clearwater has advised the shareholders of Excent, a prominent European dental laboratory group and a portfolio company of Waterland Private Equity Investments (Waterland), on its sale to a high multiple combination of De Hoge Dennen Capital, an investment firm, and Friesland Bank Investments, a private equity firm. This transaction followed a highly competitive sale process, involving vendor due diligence and the arrangement of debt financing.
Excent is the leading dental laboratory group in the Netherlands, supplying dentists with partial and full dentures, crowns, bridges, facings, and implant work, leveraging the latest technology such as Computer-Aided Design and Computer-Aided Manufacturing (CAD/CAM) in its operations. With 28 dental labs and a workforce of 450 employees, the management and new shareholders aim for further expansion, both organically and through acquisitions.
De Hoge Dennen Capital is the investment company of the De Rijcke family. The firm invests in Dutch mid-sized companies, operating in retail/trade, industry or services sectors, with a strong management team and growth opportunities.
Friesland Bank Investments invests in medium-sized companies with a proven track record, strong market position, led by a committed management team.
Waterland supports mid-sized companies in the Netherlands, Belgium, and Germany, in accelerating their growth strategy, particularly in industries influenced by trends such as the ageing population, leisure, outsourcing and sustainability. The growth strategy of Excent is a clear example of Waterland’s investment policy.
