Dental acquirers we could document (2026-09)
| Acquirer | Owner / sponsor | HQ | Focus | Footprint (as stated) | Latest dated event (source) |
|---|---|---|---|---|---|
| KKR (majority owner) | Effingham, IL | General dentistry, affiliations and de novos | 1,900+ supported locations, 3,000+ doctors in 39 states + DC; 33 affiliations and 60 practices via Smile Design Dentistry in 2025 | ||
MB2 Dental | Warburg Pincus (recap announced Nov 2024); Charlesbank continues (invested 2021) | Not stated | Dentist partnership model, general and specialty | 800+ partner practices (2026 release) | Nov 13, 2024: recapitalization at enterprise value above $3.5B |
Dental Care Alliance | Mubadala and Harvest Partners (joint control since Dec 2022) | Not stated | Multi-brand general and specialty | About 390 affiliated practices in 22 states at the 2022 deal | |
The Aspen Group (Aspen Dental) | Leonard Green & Partners and Ares (majority), American Securities (minority) per 2017 release | Not stated | Branded general dentistry | Not restated here | |
PDS Health (Pacific Dental Services) | Privately held | Not stated | Supported practices with dentist ownership model | 900 supported practices milestone announced | |
Smile Brands | Gryphon Investors | Irvine, CA | Branded general dentistry | ~650 offices in 30 states after acquiring Midwest Dental | |
Sonrava Health (Western Dental) | New Mountain Capital | Not stated | Affordable general, specialty and orthodontics | 580+ offices in 20 states (sponsor page) | |
Dental365 | The Jordan Company (agreed 2021) | Not stated | General and specialty (Northeast and beyond) | Expanding by acquisition | |
Chord Specialty Dental Partners | Rock Mountain Capital | Not stated | Pediatric and orthodontic specialty | Partnered with Dr. J Pediatric Dentistry (3 Indianapolis practices) | |
PepperPointe Partnerships | Dentist-owned (markets itself as an alternative to PE ownership) | Not stated | General dentistry partnerships | Not stated | |
Mortenson Dental Partners | Employee-owned (ESOP) | Not stated | General dentistry | Not stated |
Read this before you answer a letter
Ownership model matters as much as the multiple: PE-backed DSOs usually pay part of the price in rollover equity that pays out on the next recapitalization, while dentist-owned and ESOP groups offer different kinds of ownership. See DSO vs private buyer.
Platform vs add-on: what it means for price
A platform is the first company a PE firm buys in a trade or region; it is usually larger, keeps its management and is priced at a higher multiple. An add-on is a smaller company bolted onto that platform, typically at a lower multiple, because the buyer is paying for your customers, technicians and location rather than a management team.
Published ranges for dental practices:
| Deal type / size | Multiple | Source |
|---|---|---|
| Single practice sold to a DSO (add-on) | 5-8x EBITDA | FOCUS Investment Banking - Dental practice EBITDA multiples 2026 |
| DSO platform | 9-12x EBITDA | FOCUS Investment Banking - Dental practice EBITDA multiples 2026 |
| Private practice sale (dentist buyer) | 60-95% of collections, most 70-85% | DDSmatch - How to value a dental office before selling (2025-06) |
If one of these groups contacts you
- Do not reply with numbers yet
Run your own range first with the dental practice calculator.
- Ask what kind of deal it is
Platform or add-on? How much cash at close, how much rollover equity or earn-out, and what role they expect you to play for how long.
- Check who owns the buyer
The sponsor and when it invested tell you how soon the buyer itself may be sold, which matters if you roll over equity.
- Talk to more than one buyer
A single-bidder process rarely gets the top of the range. Use our unsolicited offer guide and checklist.
Got a PE letter? Get our offer-review checklist
Twelve questions to ask before you sign anything, including the rollover and earn-out terms that change what you actually take home.
Buying dental businesses? Register your interest
Get notified when we publish new data on off-market dental businesses and acquirers. We do not list businesses for sale, and we cannot promise that any will become available to you.
Spotted an error or an out-of-date sponsor? Send a correction and we will review it against the primary source. Company names are used only to identify them; we are not affiliated with any acquirer listed.
Frequently asked questions
Who is buying dental businesses?
We documented 11 active acquirers from primary sources, including Heartland Dental, MB2 Dental, Dental Care Alliance. The table lists each one’s owner, footprint and latest dated announcement.
Do PE-backed buyers pay more?
For larger companies, usually yes on headline multiple, but more of the price may come as rollover equity or earn-out. Compare cash at close and your required role, not only the multiple.
Can you introduce me to these buyers?
No. We are not a broker, we do not make introductions and we take no fees from buyers or sellers. See not a broker.
Sources
- Heartland Dental - primary source (accessed 2026-09-23)
- MB2 Dental - primary source (accessed 2026-09-23)
- Dental Care Alliance - primary source (accessed 2026-09-23)
- The Aspen Group (Aspen Dental) - primary source (accessed 2026-09-23)
- PDS Health (Pacific Dental Services) - primary source (accessed 2026-09-23)
- Smile Brands - primary source (accessed 2026-09-23)
- Sonrava Health (Western Dental) - primary source (accessed 2026-09-23)
- Dental365 - primary source (accessed 2026-09-23)
- Chord Specialty Dental Partners - primary source (accessed 2026-09-23)
- PepperPointe Partnerships - primary source (accessed 2026-09-23)
- Mortenson Dental Partners - primary source (accessed 2026-09-23)
- FOCUS Investment Banking - Dental practice EBITDA multiples 2026 (accessed 2026-09-23)
- DDSmatch - How to value a dental office before selling (2025-06) (accessed 2026-09-23)