Dental Care Alliance, one of the largest dental support organizations in the United States, has announced a strategic transaction with its existing lender group that reduces total funded debt by more than $1.1 billion, provides $95 million in new capital, and extends the company’s debt maturities to 2031. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions.
Founded in 1991 and headquartered in Sarasota, Florida, Dental Care Alliance supports more than 400 affiliated practices and 900 dentists across 24 states. The new capital, funded by certain existing financial partners, will support investments in clinical excellence, practice operations, technology, and strategic growth. All DCA clinics continue to operate normally, and the transaction has no impact on day-to-day practice support.
The financial restructuring follows what the company describes as a period of strong operational and cultural progress spanning the past 14 months, during which the company grew its partnerships, invested in training and leadership programs, and expanded its practice support capabilities. Kirkland & Ellis is serving as legal advisor, AlixPartners as financial and operational advisor, Greenhill & Co. as investment banker, and C Street Advisory Group as strategic communications advisor to the company. Milbank is serving as legal advisor and PJT Partners as investment banker to the first lien term lenders. Paul, Weiss, Rifkind, Wharton & Garrison and Holland & Knight are serving as legal advisors to certain other financial partners.
KEY QUOTES:
“This transaction marks an important step forward for Dental Care Alliance and strengthens our position as one of the nation’s leading dental service organizations. By improving our financial flexibility, we are able to grow our business, provide best-in-class service to our clinicians, expand access for patients, and continue to raise the bar for outstanding patient care.”
“While the financial transformation is significant, I am most proud of what our team has accomplished over the last 14 months. Our doctors, hygienists, and support professionals remained unwavering in their commitment to our mission. Together, we are advancing the practice of dentistry by partnering with dental professionals to create a lifetime of healthy smiles. During this period, we grew our partnerships, invested in training and leadership programs, and strengthened a culture where teammates are forever, and every patient interaction matters. With a stronger financial foundation to match the operational and cultural foundation our team has already built, we are well-positioned to deliver on our long-term vision of being the partner of choice for dental professionals nationwide.”
Dr. Larry Benz, CEO, Dental Care Alliance
