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

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