Private equity firm BC Partners Ltd is exploring the sale of dental products manufacturer Zest Anchors Inc for more than $1 billion including debt, two people familiar with the matter told Reuters.
BC Partners is working with investment banks on a sale process for California-based Zest Anchors, which had earnings before interest, taxes, depreciation and amortization of about $70 million in 2021, said the sources, who requested anonymity because the matter is confidential.
A spokesperson for BC Partners declined to comment.
Zest Anchors is a manufacturer of removable dental implants used by dentists for patients with missing or faulty teeth. The company was founded in 1977 by father and son duo Max and Paul Zuest.
The U.S. dental services market is expected to grow to $146 billion in 2022 from $136 billion last year, as more people seek in-person dental care in the aftermath of the coronavirus pandemic, according to Precedence Research.
Zest Anchors has been shopped around by several private equity owners since 2009 when its original founders sold a controlling stake in the firm to The Jordan Company.
In 2018, BC Partners acquired Zest Anchors from healthcare-focused private equity firm Avista Capital Partners, which had bought the company from The Jordan Company in 2013 for an undisclosed amount.
Based in London, BC Partners has $40 billion in assets under management spread across healthcare, financial services, and industries in Europe and North America.
