JLL Partners Completes Acquisition of American Dental Partners
09 Febbraio 2012 - 6:35PM
JLL Partners, Inc. ("JLL") and American Dental Partners, Inc.
("ADPI" or the "Company") (Nasdaq:ADPI) announced today that JLL,
through its affiliated entities, completed its acquisition of the
Company.
"I am very pleased to have a partner in JLL that is committed to
our core values, strategic goals and objectives, dedication to
quality care and long-term outlook," said Gregory A. Serrao,
President and Chief Executive Officer of the Company.
"American Dental Partners is well-positioned as a leading
provider of dental practice management services with a national
infrastructure and an excellent reputation for providing services
to its affiliated practices," said Michel Lagarde, Managing
Director of JLL. "We look forward to working with ADPI's management
team to pursue our shared vision and enhance the Company's
growth."
The Company is now privately held and will no longer be listed
on NASDAQ after the closing of the market on February 9,
2012. As a result of the acquisition, the holders of ADPI's
outstanding common shares will receive $19.00 per share in
cash. The total enterprise value for the Company, including
outstanding indebtedness, as of the closing date is $392
million.
About American Dental Partners
American Dental Partners is headquartered in Wakefield,
Massachusetts and is one of the nation's leading business partners
to dental group practices. The Company is affiliated with 27 dental
group practices, which have 282 dental facilities with
approximately 2,404 operatories located in 21 states. More
information on American Dental Partners can be found on the website
www.amdpi.com.
About JLL Partners
JLL Partners is a New York-based leading private equity
investment firm with approximately $4 billion of capital under
management. JLL's investment philosophy is to partner with
outstanding management teams and invest with them in companies that
they can continue to grow into market leaders. JLL has
invested in a variety of industries, with special focus on
healthcare services, financial services and business
services. More information on JLL can be found on the website
www.jllpartners.com.
Forward-Looking Statements. This press release contains
forward-looking statements. Such forward-looking statements
reflect the Company's current expectations or beliefs concerning
future events and actual results may differ materially from current
expectations. Any such forward-looking statements are subject to
various risks and uncertainties. Investors should not place undue
reliance on forward-looking statements as predictions of future
results. The Company does not undertake to publicly update or
revise its forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACT: American Dental Partners, Inc.
401 Edgewater Place, Suite 430
Wakefield, MA 01880
Phone: 781-224-0880
Fax: 781-224-4216
Gregory A. Serrao
Chairman, President and
Chief Executive Officer
781-224-0880
Breht T. Feigh
Executive Vice President, Chief
Financial Officer and Treasurer
781-224-0880
JLL Partners, Inc.
450 Lexington Avenue, 31st Floor
New York, NY 10017
Phone: 212-210-9334
Fax: 212-286-8626
Dalia Cohen
Investor Relations
JLL Partners
212-210-9334
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