| Location |  |
|---|---|
| Date of investment | Jan 2002 |
| Activity | UK dental practices |
| Investment Size | €24.0m |
| Type/stage | BIMBO / Buy and build |
| Revenues | €40.0m |
| Transaction Size | Not disclosed |
| Milestone Board Members | |
| Date of realisation | Mar 2007 |
| Further information |  |
The Business
ADP operated a chain of general practice dental surgeries, providing dental care for both NHS and private patients.
The Management
The Chief Executive of ADP, Bharat Patel, was an experienced entrepreneur, having previously grown and subsequently floated, a private equity backed healthcare company. Bharat was supported by a strong management team including: Richard Knight (Finance Director); Matthew Mayhew (Clinical Director); Steve Frampton (Operations Director); and Justine Lagarrigue (HR Director).
Strategic Development
When ADP was sold to management in a secondary buy-out in 2007, it operated over 63 dental practices serving over 370,000 patients in the UK. The strategy was to grow rapidly through the winning of new NHS contracts, the continued acquisition of further general dental practices and the development of new greenfield sites. This was successfully achieved and ADP was subsequently sold to the management team in a secondary MBO in 2007 generating a return of 2.3 times our original investment.