Milbank LLP represented a group of arrangers led by RBC Capital Markets in arranging senior secured debt financing to support Aspen Dental Management Inc.’s (“ADMI”) acquisition of ClearChoice Management Services, LLC (“ClearChoice”). The other lead arrangers were JPMorgan, Deutsche Bank, Credit Suisse, Bank of Montreal and KKR. The terms of the acquisition are not disclosed.
ADMI is one of the largest and fastest-growing healthcare support organizations in the United States, offering a full range of essential business services to consumer healthcare brands, including to over 850 Aspen Dental-branded offices nationwide, and to over 45 WellNow Urgent Care offices in New York and Illinois. Aspen Dental is a portfolio company of Ares Management and Leonard Green & Partners.
ClearChoice, a portfolio company of Sun Capital Partners, provides high-quality administrative practice management services to over 60 ClearChoice Dental Implant Centers. ClearChoice also supports dentists in developing and opening new ClearChoice Dental Implant Centers in cities and communities across the United States.
The Global Leveraged Finance team was led by partners Marcus Dougherty and Benjamin Sayagh with associates George Zhang, Mitch Cooper and John Kim, and included support from numerous others across Milbank’s Washington, DC and Los Angeles offices.