BUCHAREST (Romania), August 23 (SeeNews) - Romanian dental health products distributor Dentortal, backed by Central Europe-active private equity investor Abris Capital Partners, has signed a binding agreement to acquire Bulgarian peer Dentatechnica, Abris said on Monday.
The agreement is conditional upon securing clearance from the relevant antitrust authorities, Abris Capital said in a press release. The price of the deal was not disclosed.
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"This transaction marks our entry into the Bulgarian market – a market we have been analysing for some time. This acquisition is a great starting point for our buy-and-build strategy in the dental distribution sector and a clear example of our plan to create the regional market champion in this space," Abris Capital Partners partner and head for Romania Adrian Stanculescu said.
Following this international merger, Abris aims to continue building Dentotal into a regional leader through organic growth and further consolidation of local markets in Romania and Bulgaria.
"The Dentotal team is looking forward to working together with our new colleagues as we target the leading position in the Bulgarian dental distribution market. Together we will benefit from cross-business synergies to become the preferred partner of dentists and dental technicians, both in the Romanian and Bulgarian markets,” Dentotal CEO Dumitru Matei said.
Abris plans to drive the transformation of the business into a sustainable and scalable platform, creating a one-stop-shop for dental clinics and laboratories in the region.
While the dental care market was affected by the pandemic, with dental clinics shutting down during the lockdown period in 2020, Dentotal has emerged as a stronger company by focusing on building its internal organisation, upgrading its IT systems and investing in modern logistics and sales functions, Abris added.
Established in 2007, Abris Capital Partners is an independent private equity fund manager, focused on mid-market opportunities in the major countries of Central Europe. Abris acquired Dentotal in 2019 from a family of Romanian entrepreneurs.
Dentotal was founded in 1994 and has more than 12,000 clients – dental care clinics and laboratories in the whole country.
Founded in 1991, Dentatechnica is the largest dental distributor in Bulgaria with a complete portfolio of dental equipment and consumables and nationwide coverage. The company delivers products to more than 3,000 dental clinics and laboratories across the country.