Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., provided mezzanine debt and equity to support The Riverside Company’s investment in DentalPlans.com Inc.
Plantation, Fla.-based DentalPlans.com is the leading direct-to-consumer marketer of dental savings plans. The Company provides online tools that allow customers to compare dental savings plans by zip code, view sample savings and find a nearby dentist. DentalPlans.com offers more than 30 of the leading dental savings plans available at more than 100,000 dentists across the country, providing its members access to discounts of between 10 percent and 60 percent off most dental procedures.
“Our well-established relationship with Babson Capital and its ability to close quickly was a key to bringing the DentalPlans.com transaction to a successful conclusion on a challenging timetable,” said Riverside Partner Kristin Newhall. “DentalPlans.com is already the dominant player in the online direct-to-consumer dental savings plan market, and we are excited about the opportunity to help the company realize its untapped potential.”
“We are pleased to partner with The Riverside Company on its investment in DentalPlans.com, which will no doubt benefit from Riverside’s long and successful track record of investing in the healthcare industry on 60 previous transactions,” said Mike Klofas, Managing Director and head of the Middle Market Finance Group for Babson Capital. “We look forward to supporting Riverside on additional investments in the near future.”
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