Dentalcorp Holdings, recognized as Canada’s foremost network of dental practices and one of the fastest-growing in North America, has announced its intention to be acquired by funds linked to GTCR. This significant move is supported by key figures within the company, including its Founder, Chairman, and CEO, Graham Rosenberg, alongside President and CFO, Nate Tchaplia, and investment partner L Catterton. The acquisition is structured as an all-cash transaction, valuing Dentalcorp at approximately C$2.2 billion based on its equity and around C$3.3 billion when considering its enterprise value.
This acquisition is poised to strengthen Dentalcorp’s reputation as the preferred partner for top dental practices across Canada. The company maintains a firm commitment to upholding the highest standards of clinical excellence, a hallmark of its business model. Additionally, it seeks to preserve the clinical autonomy that distinguishes it from its competitors.
The shift to private ownership is expected to enhance resources, allowing for greater investments in technology, patient care facilities, and professional development. Dentalcorp strives to cultivate a collaborative environment that has significantly contributed to its reputation as the gold standard in Canadian dentistry.
As part of this deal, a new acquisition entity—referred to simply as the Purchaser and managed by GTCR—will be purchasing all outstanding subordinate voting and multiple voting shares of Dentalcorp, excluding certain rollover shares. Shareholders will receive a cash payment of C$11 per share, which represents a notable premium of approximately 33% compared to the last closing price and a volume-weighted average over the preceding 20 trading days, as of September 25, 2025, the final trading day before the announcement.
The agreement includes commitments from key shareholders. For instance, Graham Rosenberg, Nate Tchaplia, and L Catterton plan to roll over a percentage of their shares into the new organization, indicating their long-term confidence in Dentalcorp’s future. Additionally, partner dentists will also have the opportunity to roll over their shares, aligning their interests with the new ownership structure.
This strategic deal reflects a pivotal moment for Dentalcorp, marking their dedication to enhancing the quality of dental care while positioning the business for substantial growth and investment in the future.
Advisors: Canaccord Genuity is acting as financial advisor to the Special Committee. INFOR Financial is acting as financial advisor and independent valuator to the Special Committee. Blake, Cassels & Graydon is acting as legal advisor to the Company and Weil, Gotshal & Manges is acting as US legal advisor to the Company. McCarthy Tétrault is acting as legal advisor to the Special Committee. Moelis & Company is acting as financial advisor to GTCR. Goodmans and Latham & Watkins are acting as legal advisors to GTCR. Stikeman Elliott is acting as legal advisor to certain members of management of the company, and Kirkland & Ellis is acting as legal advisor to L Catterton.
KEY QUOTES:
“This transaction affirms the significant value inherent in our business and provides our shareholders with immediate and attractive cash consideration at a significant premium. GTCR’s proven track record in healthcare and its commitment to supporting management teams aligns perfectly with our vision for continued growth. As a private company, Dentalcorp will benefit from enhanced flexibility to execute our long-term strategy, invest in technology and professional development, and continue expanding our network of leading dental practices across Canada.”
Graham Rosenberg, Founder, Chairman and CEO of Dentalcorp
“We are excited to partner with Graham, Nate, and the exceptional Dentalcorp team on the next phase for Canada’s leading dental services organization. Dentalcorp has an impressive tech-enabled platform and a unique service offering, which makes them the partner of choice for leading dental practices and patients alike across Canada. We look forward to leveraging GTCR’s long history of investing in healthcare and multi-site healthcare services businesses to support Dentalcorp’s continued focus on delivering clinical excellence and expanding its network.”
John D. Kos, Managing Director at GTCR
