Advent International has agreed to sell Spain-based dental chain Donte Group to Ontario Teachers’ Pension Plan, valuing the business at €1 billion (around $1.2 billion).
The Boston-based PE firm acquired Donte in 2019 from Intermediate Capital Group, JB Capital Markets and Kartesia.
Donte operates a network of 426 clinics and 2,200 dentists across four brands.
OTPP has more than C$266 billion (around $194.3 billion) in net assets, including C$6 billion in global healthcare.
The fund’s portfolio companies include US-based Heartland Dental, a non-clinical dental support services provider; PhyNet, an outsourcing services provider for dermatology practices; Veonet, a Germany-based operator of ophthalmic treatment and medical care centers; and NVision, an imaging services provider.
PE deals in healthcare in Europe remained resilient in Q2 despite a slower overall dealmaking environment.
As of July 15, around €28.2 billion has been transacted this year in the sector, equivalent to 76% of the total deal value last year. However, there were only 243 deals, representing 42.8% of the deal count in 2024.
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