The Growth Fund puts dental business on the block

This time, the firm has called in boutique MA house Allier Capital to canvass buyer interest and run a two-stage auction for Ekera Dental, which makes about $14 million at the earnings line and collects service fees from dental practitioners and patients.

It’s a fairly typical platform-style deal from the private equity group. The Growth Fund’s principals made a killing sellingin 2017 and have taken Ekera from a handful of clinics to a 45-strong network across Queensland, NSW, South Australia and Victoria. Ekera is overseen by Tony Coulepis and has The Growth Fund managing partner Tim Spencer on its board. The business is making $14 million in EBITDA, its latest accounts show. Profit after tax fell 46 per cent to $4.3 million in 2022.

While it’s early days for the mooted auction, it’s no secret dentistry has been a happy hunting ground for buyout funds. Daryl Holmes’ 1300 Smiles and Abano Healthcare both ended up in theAdvertisement

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Labour market in ‘remarkably tight position’ as wage growth risesThe labour market has been in a 'remarkably tight position for the better part of eight or nine months now”, according to Oxford Economics Head of Macroeconomic Forecasting Sean Langcake. “It’s been hovering around three and a half unemployment rate,” Mr Langcake told Sky News Business Editor Ross Greenwood. “We’re at a point with the labour market where it’s generating wage growth that’s faster than what will generate an inflationary consistent with the RBA’S target. “The missing piece in that puzzle of course is where productivity growth is.”
Source: SkyNewsAust - 🏆 7. / 78 Read more »