Nordic private equity firm EQT announced that it has backed Swiss dental chain Swiss Smile with a CHF 44 million investment. The deal was made through a partnership agreement with the dental chain's founders and major shareholders. The founders, Dr. Haleh Abivardi and Dr. Golnar Abivardi, are both dentists. They established Swiss Smile in 2002. Funds from EQT also facilitated the buyout of the dental chain's minority stakeholders. The capital infusion from the private equity firm would be used by Swiss Smile to grow its business in Switzerland. The dental firm's expansion strategy would be to acquire specialized and top quality clinics. The firm currently commands a 28% share in the Swiss dental chain market, making it a niche leader.
EQT Industrial Advisor Stanley Brodén said, "The Swiss dental market is attractive, not the least because it is extremely fragmented. swiss smile has a proven track record in expanding both organically and through acquisitions and we are happy to partner with the founders in the continued growth and development of this well positioned business." As part of the transaction, Brodén was designated as the Vice Chairman of the Board of Directors of Swiss Smile.
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